Page 59 - Plastics News February 2017
P. 59
Business NEWS
Jain Irrigation Systems Reliance Industries signs JV
acquires Australia's Observant with SIBUR
Technology
Reliance Industries Ltd (RIL) has signed a
Jain Irrigation Systems Ltd (JISL) has acquired memorandum of understanding (MoU) for a joint
the technology and core team of Australia’s venture with Russian petrochemical giant SIBUR to set
Observant Pty Ltd, which provides in-field hardware up South Asia’s first butyl rubber halogenation unit
and cloud based applications for precision farm at RIL’s integrated petrochemical site in Jamnagar,
water management. The acquisition will combine Gujarat. Production capacity was confirmed at 60,000
Observant’s broad field monitoring and control
technology with Jain’s global irrigation manufacturing mtpa of halogenated butyl rubber at Reliance Sibur
and precision agriculture technology (Ag Tech) Elastomers Pvt Ltd (RSEPL), a joint venture in which
platform to provide farmers with a broad suite of RIL owns 74.9% and SIBUR owns 25.1%.The MoU was
capabilities to increase crop yields while, at the signed at the recently concluded Vibrant Gujarat
same time, responsibly and profitably manage limited Global Summit in Gandhinagar. Apart from the planned
resources. “Technology and innovation are core focus halogenation unit, the JV owns a 1,20,000-mtpa butyl
areas for Jain. We are thrilled to have the opportunity rubber plant, currently under construction at the same
to access the best technology in the industry with venue. It will provide the necessary butyl rubber feed
Observant, a globally recognised Ag Tech leader. The to the halogenation unit.
award winning Observant product line is ready to
scale to the tremendous global market that the Jain Construction of the plant is on in full swing at Jamnagar,
company services. With Jain’s backing, farmers will and commissioning is targeted for 2018. “RSEPL’s
have access to the best technology and the backing of halogenated butyl rubber plant will be well-poised to
a 30-year-old company with 11,000 associates,” said capitalise on the significant surge in regional demand
Aric Olson, president of Jain Irrigation Inc, a wholly- intyre and pharmaceutical industries. India is expected
owned subsidiary of JISL. to see a quantum jump in tyreproduction, with Indian
and international tyre majors gearing up to make
Anil Jain, managing director of Jain Irrigation capital investments of Rs 15,000 crore,” commented
Systems Limited, said, “In combination with our Nikhil Meswani, executive director, Reliance Industries
complementary products technologies from the US, Ltd.
Australia, India, and Israel, we have unmatched
capabilities to help farmers deliver on our promise of
‘More Crop per Drop’.”
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