Reliance unveils details of oil-to-chemical business spin off plan

India-based Reliance Industries (RIL) has released a detailed plan carving out its oil-to-chemicals (O2C) business into a wholly-owned subsidiary, which can attract investors.
According to the plan, RIL’s O2C assets, including its refining, petrochemicals, fuel retail, and wholesale marketing businesses, alongside assets and liabilities, will be transferred to a new unit.