Reliance Industries forms commodities trading arm in Abu Dhabi

Reliance Industries has formed a new subsidiary, Reliance International (RINL), for trading in crude oil, petroleum products, petrochemicals and agricultural commodities, the Mukesh Ambani-led company said in a statement to stock exchanges on Saturday.

RIL NSE 1.91 % said it has made an initial investment of Rs 7.43 crore in the subsidiary incorporated in Abu Dhabi. RINL has yet to commence its business operations, the statement said.