Indian Oil to make synthetic rubber tyres

MUMBAI: Indian Oil Corp, the nation’s second-biggest refiner, will begin making synthetic rubber for tyres, in partnership with Marubeni Corp and Taiwan’s TSRC Corp to benefit from rising auto demand in the South Asian nation. 

The venture will build a plant in Panipat by September 2012 at an investment of 9 billion rupees (100 rupees = RM7.58), the company said yesterday. Indian Oil will hold 50 per cent of the venture, TSRC 30 per cent and Marubeni will hold the rest.

(btimes.com.my)