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Joint venture partner for SPIC Petro soon

Our Bureau

Chennai , Sept. 15

THE SPIC group will shortly finalise a joint venture partner to revive its subsidiary SPIC Petrochemicals Ltd, according to its Chairman, Mr A.C. Muthiah.

Declining to comment on the profile of the partner, he said, "You will hear something good on this soon."

Mr Muthiah said that it would require Rs 200-300 crore to revive SPIC Petrochemicals, and another Rs 1,000 crore to get into full range of production, he said in informal chat with newspersons at the Maraimalai Nagar plant of SPEL Semiconductor.

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