Reliance likely to announce a major investment plan at GIM

Kochi: Reliance Industries (RIL) is likely to make an announcement of a major investment plan in Kerala at the Global Investor Meet (GIM) to be held here for two days from 18 January 2003.

An indication to this effect was available at a press conference addressed jointly by Kerala Non Resident Keralite Affairs Minister M M Hassan and Kerala Industrial Development Corporation Managing Director Jiji Thomson here. Despite repeated queries, they did not give the details of RIL’s investment plans, but said the company is likely to make the announcement at the GIM.

RIL chairman Mukesh Ambani is the only industrialist from India who is speaking at the inaugural function at which Prime Minister A B Vajpayee will declare the opening of the GIM on 18 January.

Replying to a question, Hassan said several projects to the tune of Rs 11,000 crore have been confirmed at the GIM. He said the business session of the two-day GIM will begin with separate sittings on information technology, infrastructure, and industries and industrial infrastructure.