Reliance Industries mulls investment of over Rs 1,50,000 crore over next five years

25-Apr-11
Reliance Industries plans to invest over Rs 1,50,000 crore over the next five years. There might be major investments, totalling nearly Rs 1,00,000 crore in the group's core businesses of petrochemicals and energy exploration and production over the next five years. Business initiatives in telecom, power and financial services sectors would also witness investments worth at least Rs 50,000 crore in the next few years. RIL's cash balance stood at a record high level of Rs 42,393 crore at the end fiscal ended March 31, 2011, as against Rs 21,874 crore a year ago. Further money influx is expected in the next few months, while it might raise further funds from the market, mostly through overseas bonds and partly through project equity. The group is working on various business expansion strategies for different segments and a consolidated view of these initiatives could be announced by Mukesh Ambani at RIL's Annual General Meeting on June 3.
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