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Reliance Industries Bidding For ChemChina’s Solar Unit: ET
RIL is close to acquiring the REC Group, according to The Economic Times. Photo: Reuters

(AF) Reliance Industries (RIL) is eyeing China National Chemical Corp’s (ChemChina) REC Group, the largest solar panel manufacturer in Europe, in a $1-1.2  billion acquisition bid, The Economic Times reported on Tuesday.

The acquisition will help RIL access cutting-edge technology and global manufacturing capabilities as the company pursues its recently announced green energy foray, the newspaper said. Full report: The Economic Times.

 

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Indrajit Basu

Indrajit Basu is an India-based correspondent for Asia Financial and wears two hats: journalist and researcher (equity). Before joining AF he reported on business, finance, technology, wealth management, and current affairs for China Daily, SCMP, UPI, India Today Group, Indian Express Group, and many more. He is also an award-winning researcher. If he didn't have to pay bills, he would be a wanderer.

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