Nova Chemicals (Calgary, Alberta / Canada; www.novachem.com) and Reliance Industries (Mumbai / India; www.ril.com) plan to create a joint venture for the manufacture of energy efficient building products for the Indian sub-continent. The venture will use Nova’s EPS-based building and construction systems, which the company claims can cut ongoing energy demand by a third. Components include roofing, decking and wall panels.

"India has a USD 60 bn (EUR 39 bn) construction market that is growing at about 20% per year,” says Chris Pappas, Nova’s president and COO. “The potential for energy-efficient buildings in India is very exciting and these systems are an excellent fit for Reliance retail's strategy." The joint venture is expected to be operational by the third quarter, and its first project will be the construction of buildings for Reliance Retail in India.