RIL to invest Rs 1.5L crore over 3 years
Reliance Industries will invest Rs 1.5 lakh crore across energy, petrochem and telecom businesses over the next three years as it looks at expansions to supplement falling natural gas production.
RIL Chairman Mukesh Ambani, the world`s richest energy billionaire, however gave few details on plans for its long-anticipated launch of 4G telecom services.
Reliance, India`s fourth-largest company by market value, is eyeing a four-fold increase in revenues from retail business and a sustainable growth in its shale gas business in US, he told company shareholders here Thursday.
The company plans to increase capacity at its existing petrochemical plants and build new ones, drill more wells to boost flagging oil and gas production, open more retail stores and shortly start high-speed broadband service, Ambani said.
"Reliance has embarked on the largest investment programme in its history. We are committed to investing Rs 150,000 crore in the next three years," said Ambani, as his mother Kokila Ambani, wife Nita Ambani and children watched.