Reliance Industries (RIL) Announced to Invest 1.5 Lakh Crore Rupees over Next Three Years
Reliance Industries (RIL) announced that it was planning to invest a whooping amount of 1.5 lakh crore Rupees or 26 billion US dollar by 2016.
Reliance Industries (RIL) announced that it was planning to invest a whooping amount of 1.5 lakh crore Rupees or 26 billion US dollar by 2016. The RIL Chairman Mukesh Ambani, at the Annual General Meeting held on 6 June 2013 announced that this investment will be embarked and that it would be the largest ever investment undertaken by the company.
Pointing out about the commencement of Silvassa Petchem plant in 2013, Mukesh Ambani declared that RIL will become one of the top 5 Petchem producers of the world as RIL will expand its petchem capacity from 15 mtpa to 25 mtpa.
The resource base of the RIL will also add significantly to the company because of recent gas discovery 2 km below the currently producing gas field at the KG-D6 block. The retail business of the company has also crossed the revenue of 10000 crore Rupees. It also received an EBITDA of 78 crore Rupees and also plans to achieve 40000 to 50000 crore Rupees in the near future.
RIL is the largest private sector company of India that has business in various sectors such as telecom, retail, span energy and petrochemicals.