Reliance Industries to spin-off its O2C unit.

Reliance Industries, an Indian multinational conglomerate company, is set to spin-off its oil-to-chemicals business into a separate entity. Financial terms were not disclosed. According to the plan, RIL’s oil-to-chemicals assets, including its refining, petrochemicals, fuel retail (majority interest only) and bulk wholesale marketing businesses, along with its assets and liabilities, will be transferred to a new unit. RIL said it has been exploring options to bring in strategic investors in the O2C business.