Apart from its core business of petroleum and petrochemicals, Reliance Industries Limited (RIL) plans to set up a separate company, Reliance Retail Limited, with an equity investment Rs 10,000 crore (US$2241 million) to focus on organised retail. Reliance Retail Ltd., that plans to invest Rs 25,000 crore (US$ 5602 million) in retail business over years, will be 100% owned by RIL.
The retail project will cover 1,500 cities and towns, and will be based on "an appropriate mix of formats from convenience stores, supermarkets and speciality stores to hypermarkets". The initiative will partner with farmers, logistics operators, small shopkeepers and traders and is to offer products in a variety of verticals like food and grocery, items of daily household consumption, including FMCG, apparels, footwear, consumer durables, lifestyle products, services, home essentials, farm implements and inputs.
28-Jun-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}