Reliance plans US$15 bln investment in Gujarat

15-Jan-07

Reliance Industries Ltd plans to invest US$15 bln (Rs 670 bln) on petroleum and coal projects in the state of Gujarat in Western Indian. The investments include Reliance's earlier announced plans to spend Rs 270 bln on setting up a new refinery, polypropylene unit and in a special trade zone in Jamnagar. Reliance will invest Rs 400 bln in coal, lignite gasification projects, a gas pipeline and distribution network to supply natural gas to houses and businesses. This is the biggest investment in its core petroleum and chemicals businesses announced by the company in the fiscal year commencing on April 1.