Mumbai: Reliance Industries will be investing over Rs 1,80,000 crore in the next three years and which will be transformational for RIL.
Addressing the shareholders at RIL’s 40th annual general meeting in Mumbai, chairman Mukesh Ambani said “The next three years are transformational in RIL’s journey. By the time we finish four decades since our first public offering we will again be a radically different company. We hope to accomplish as much in the next three years as we have achieved in the past 37 years.”
He said they were currently at the mid-point of the largest investment programme in Reliance’s history. The next two years, 2014-15 and 2015-16, will see them focused on executing and progressively bringing these projects on-stream in petrochemicals, refining, retail and Jio.
Mr Ambani said that Reliance will become the largest player in the unconventional energy sector in India and are on track to start production from the Coal Bed Methane blocks in 2015-16 in Madhya Pradesh.
He said the petrochemicals business will benefit from the highest allocation of capital among their three energy businesses and they would strengthen their plastics business by building a new integrated cracker capacity.
Target fortune 50
Reliance Industries unveiled a huge expansion plan aimed at catapulting it into the top 50 companies of the world. RIL currently is ranked 135 on the Fortune 500 list of global companies.
4G telecom services to begin in 2015.
Wireless-broadband services to be rolled out in 5,000 cities and 2.15 lakh villages in the country.
Investment of Rupees 1.8 lakh crore in various expansion plans across the sectors such as petrochem, retail and telecom.
Nita Ambani was inducted into RIL board as the first woman director.
