Reliance Industries Ltd (RIL) plans to invest US$9 bln in expansion of its polyester and petrochemicals business. RIL is executing a 1.4 mln tpa paraxylene plant at Jamnagar; an integrated 2.3 mln tpa purified terephthalic acid (PTA) plant with a 5,40,000 tpa polyethylene terephthalate (PET) complex at Gandhar; and 3,60,000 tpa polyester filament yarn plant at Silvassa. "In the next five-years, our total investment in all the new polyester and petrochemical manufacturing facilities will be the largest investment in this sector to be made anywhere in the world at any given point of time," RIL's Chairman, Mukesh Ambani, told shareholders at the company's AGM here. Ambani pointed out that currently, due to the on-going economic crisis, capacity-building in this sector globally is at a low. This provides Reliance with a unique opportunity to build world-scale capacity at competitive capital costs. All these augur well for rapid growth and profitability of the petrochemical business of Reliance.
Implementation of an off-gas cracker at Jamnagar is being stepped up. This off-gas cracker with over 1.5 mln tpa of olefins capacity and downstream capacities will be one of the largest facilities in the world.