Energy major Reliance Industries Ltd has submitted a $2 billion expression of interest for private Canadian firm Value Creation Inc, a television channel reported on Friday.
The Canadian firm holds oil sands assets, CNBC TV18 said.
A Reliance spokesman said he had no immediate comment.
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Reliance, India's largest listed company with interests in petrochemicals, refining, oil and gas exploration, and retail, is already looking to buy bankrupt petrochemicals maker LyondellBasell for around $13.5 billion.
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