Reliance Industries to restructure and repurpose gasification assets

The board on November 24 announced that it has decided to implement a scheme of arrangement (Scheme) to transfer Gasification Undertaking into a wholly-owned subsidiary (WOS). Repurposing the gasification assets will help use of syngas as a reliable source of feedstock to produce chemicals and cater to growing domestic demand, resulting in an attractive business opportunity. Further, as the hydrogen economy expands, RIL will be well-positioned to be the first mover to establish a hydrogen ecosystem, the statement said.