The Dutch Government’s Nodal Investment Agency says that they will support RIL’s for LyondellBasell if the deal goes through. The Netherlands, which is supporting Mukesh Ambani’s $12 billion plus bid for the Rotterdam based pet-chem giant, is the parent country of LyondellBasell.

Bass Pulles, Commissioner of the Dutch Foreign Investment Agency, which facilitates investments in an exclusive interview with ET Now’s Sumit Chaturvedi, in Hague, Netherlands said the government will support RIL’s bid for LyondellBasell. “Since RIL is a foreign company, and so is LyondellBasell, we do offer assistance in the process which surrounds the take over, for instance speeding up immigration procedures or giving a warm shoulder from the ministry”, he said.

Reliance Industries Limited submitted an all-cash non-binding bid to buy a controlling stake in LyondellBasell in 21st of November, 2009. The bid came after LyondellBasell, the third largest petrochemical company in the world, filed for bankruptcy in January, 2009. The deal, if consummated, would facilitate growth of Reliance’s core business. As LyondellBasell has large petrochemical capacities coupled with a good tech portfolio as well as joint ventures in the Middle East, it would help Reliance Industries grow and reach the Western markets.

In December, 2009 Reliance Industries stated that it had no intentions of buying any of the debt from LyondellBasell. The month of January, 2010 witnessed Mukesh Ambani-led Reliance Industries stepping up its offer for the acquisition by offering $13.5 billion instead of the earlier $12 billion.

The Netherlands government support comes as a shot in the arm for Mr. Mukesh Ambani as he prepares to bid for the Rotterdam based LyondellBasell. When asked why the vote of confidence, Pulles said, “They might consider to reinvest again, they might send out positive message to other companies back home or they might inform us on any other strategic developments in their industry.”

The Netherlands is home to global brands like Philips, ING Bank and wants to attract more talent and capital from India. They already have big investments from over 120 odd companies in India such as Infosys and TCS. If Mukesh Ambani does tide over the resistance from some lenders of LyondellBasell, he can be rest assured about support from Dutch Authorities.

Source: http://reliance-news.blogspot.com/2010/02/mukesh-ambanis-ril-gets-dutch-govt.html

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Dr. Farooq Abdullah, Minister for New and Renewable Energy, Government of India, inaugurated the first exclusive international Reliance Showroom at the Dubai Creek Towers in Deira. Rabindra Satpathy, President of Reliance Solar Group was also at inauguration ceremony and informed that PTL solar is appointed as exclusive distributors for the Middle East and Africa region for Reliance Solar Group which is a part of Reliance Industries Ltd.

PTL Solar, experts in solar street lighting solutions and part of Green Energy, has become the exclusive distributor in the Middle East and Africa for Reliance Solar Group, part of Reliance Industries, one of India’s largest private sector enterprises. PTL Solar is highly commended and appreciated at the Power Generation and Water Solutions Middle East Awards 2009 for ”ENERGY EFFICIENCY” AND “POWER GENERATION AND WATER SOLUTIONS INNOVATION OF THE YEAR AWARD 2009“:. The company is also expert in solar street lighting solutions and part of Green Energy LLC.

Business partners, suppliers, and customers of PTL Solar, as well as a few members of a delegation from the Confederation of Indian Industry (CII) also attended the event. Prabissh Thomas, Managing Director of PTL Solar, briefed guests about the offerings of the showroom and the details of the distributorship agreement with Reliance Solar Group.

Reliance Group specialises in solutions ranging from solar lanterns, home lighting and street lighting to water purification, refrigeration and solar air conditioners — all based on solar energy.

As part of its campaign to transform the existing lighting system into solar-based applications, PTL Solar has supplied its solar energy outdoor lighting units GRENlite to Dubai Electricity and Water Authority (DEWA) as well as Tecom Investments’ Dubai Outsource Zone and Dubai Internet City.

In addition, the company has installed solar car park lights for Nakheel in the Waterfront project, as well as illuminated the first automotive factory in the UAE for heavy vehicles assembled by Scania.

#View videos of Mukesh Ambani

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