Reliance Industries Ltd.

Reliance Industries has suspended operation of four units at the Vadodara petrochemicals facility (formerly IPCL complex) in Gujarat. It is believed that RIL has recently stopped operations of Acrylic fibre (24,000 tonne per annum), acrylo nitrile (43,000 tpa), PVC (55,000 tpa) and LAB (linear Alkyl benzene, 45,000 tpa) plants in the complex. 
The low demand position and the resulting inventory build up may have forced RIL to restrict production below capacity. The prices of petrochemical products have come down approximately 60 per cent in the recent months. The products which witnessed biggest falls in prices include Polypropylene and PVC. 
Reliance has either repeatedly reduced prices or offered price rebates during last one and a half months to keep pace with the global price movements. However, this has hardly improved the demand scenario as petrochemicals product prices are yet to stabilise and consumers were deferring purchases in anticipation of further drop in prices.