Reliance Industries announced mutual and amicable separation in the agreement for strategic partnership between Reliance Ventures (RVL), a wholly owned subsidiary of RIL and Infrastructure Leasing and Financial Services (IL&FS) to co-promote the Model Economic Township (MET) project of Reliance Haryana SEZ (RHSL).

The Model Economic Township project is being developed by RHSL, a wholly owned subsidiary of RVL, in the Industrial Model Township framework. IL&FS became a strategic partner in this project in January 2011.

The Model Economic Township project will continue to be developed in the Industrial Model Township framework on the directly purchased land. Development work has been started over 290 acres of land as an Industrial Colony. Some Japanese majors have established their manufacturing units in the MET Project.

Shares of the company declined Rs 5.65, or 0.55%, to trade at Rs 1,025.30. The total volume of shares traded was 21,166 at the BSE (9.45 a.m., Thursday).