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Reliance (RIL) and Saudi Aramco had entered into a non-binding Letter of Intent in August 2019 to acquire a potential 20% stake in RIL’s O2C business.  (Deposit Photos)
India: Oil-to-Chemicals Business

Reliance Calls Off 15 Billion Dollar Saudi Aramco Deal, Will Re-Evaluate Stake Sale in O2C Business

Reliance Industries Ltd (RIL) and Saudi Aramco have mutually called off the 15-billion-dollar deal under which Saudi Aramco would acquire a 20% stake in the company’s oil-chemicals (O2C) business. The move has been undertaken in the background of RIL’s evolving nature of the business i.e. the company unveiled plans for its new energy & materials businesses under which the firm intends to develop the Dhirubhai Ambani Green Energy Giga Complex at Jamnagar, Gujarat, India, which is a major part of the its oil-to-chemicals (O2C) assets. Now, RIL and Saudi Aramco will re-evaluate the proposed investment in the O2C business.

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The demonstration took place at Hydrogen Optimized’s High-Current Demonstration Centre in Owen Sound, Ontario, Canada. (Hydrogen Optimized)
Canada: 22 Million Dollar Program

Breakthrough in Green Hydrogen Technology with Demo of World’s Highest-Current Water Electrolyzer

With the completion of the demonstration of the world’s highest-current water electrolyzer, Hydrogen Optimized has advanced its large-scale green hydrogen technology – the Ruggedcell unipolar electrolyzer. The 22-million-dollar Ruggedcell high-current electrolyzer development program was launched by Hydrogen Optimized with an aim to develop the world’s largest green hydrogen production systems.

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At a glance: Plant engineering projects from across the globe. (©Shinonome Studio - stock.adobe.com)
Plant Watch

Top 10 Engineering Projects of November 2021

PROCESS Worldwide brings to you the ‘Top 10 plant engineering projects of November 2021’ from all over the world. Right from building one of the world’s lowest carbon-emitting crackers to developing a new novel methane-reducing feed additive manufacturing plant, find out all the projects making headlines here.

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