The global financial meltdown has taken its toll on the polyester unit of Reliance Industries (RIL) located at Boulapur in Orissa’s Dhenkanal district. The RIL authorities have written to the state labour department, seeking permission to close its polyester factory in the backdrop of the economic downturn.
Confirming the move, AR Bhutt, general manager, RIL said, “The products of the polyester plant have been commercially unviable owing to a slack in demand in the wake of economic recession. The management had no other option but to close the factory due to losses.”
Angul December 17, 2008, 0:35 IST
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