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The Silicon Review Asia

MukeshAmbani’s Reliance Industries and BP will be Extending Partnership in India

MukeshAmbani’s Reliance Industries and BP will be Extending Partnership in India

A joint venture has now begun, where two large companies like Reliance of Mukesh Ambani and BP will collaborate to form a petrol station network along with the aviation platform fuels business. This plan now comes after UK oil and gas expansion for the fastest growing market – India.

The country’s swelling middle class propel energy demand has caught the eye of various companies in the world. This is from Saudi Aramco to BP everyone is interested in putting their foot in the market. The other reason is that India is a country, which will have fuel vehicles even after electric vehicles concurring.

This is not the first time BP and Reliance have collaborated. In the year 2011, it had already begun a partnership. Now the new plan will have BP owning 49 percent of the joint venture and at the same time Reliance will own around 51 percent of the entire share. Although, any such financial details are yet to be disclosed the two firms are said to be reaching out to a lot of people through this new plan. Only time will tell how things go for Reliance and BP.

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