Reliance to utilize cash of Rs 80,000 crore to repay loans, expand petrochem, oil and gas and refining capacity

31-Jan-13

Reliance Industries Ltd (RIL), has cash reserves to the tune of Rs 80,000 crores. Additionally, the company has just raised another Rs 4,264 crore as a perpetual bond (perp bond). RIL plans to use the money to repay loans and expand capacity in its petrochemicals, oil and gas and refining businesses. Also, Rs 10,653 crore will be invested in Venezuela, Rs 2,644 crore in its retail business, US$8 bln in expansion of its petrochemical capacity.