At it’s 38 annual meeting, Mukesh Ambani, Chairman of Reliance Industries Ltd. Announced plans to invest nearly Rs.1 lakh-crore over the next five years in India to build a stronger and more diversified Reliance. RIL plans to double its operating profit in five years, even as it steps up investments in its core and ‘consumer-facing' businesses.
RIL is building the world's largest gasification facility to convert petroleum coke in to synthetic gas to be used as feedstock at the Jamnagar complex. The company targets to will add 30-40% to the integrated Jamnagar complex margins within the next three years.
RIL's total investment in shale gas exceeds US$3.5 bln and net resources of Reliance from its three joint ventures in the U.S. are about 10 trillion cubic feet. Net sales from the joint ventures are expected to increase 10 fold to nearly 300 billion cubic feet in five years and the shale gas business was a major area of investment over 3-5 years.
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}