RIL lines up $30-bn investment over next five years
17 Feb 2011
Billionaire Mukesh Ambani-led Reliance Industries said it has lined up major investment plans, totalling up to $30 billion over next five years in its various businesses, including energy and telecom sectors.
These investments amounting to $25-$30 billion (well over Rs100,000 crore) would mainly focus on petrochemicals, exploration and production and telecom.
The company's bullish investment outlook was in evident at an investor conference hosted last week by Bank of America Merrill Lynch (BofA-ML) last week.
The company has identified five main lines of business over the next 5-10 years as petrochemicals, refining, E&P, retail and telecom.
As per the proposed capital expenditure investment plan, investment by the company would be $10-$12 billion in petrochemicals. It would spend another $10 billion on exploration and development of (oil and gas) discoveries already made in shale gas in India and US.
Additionally, RIL would invest $4.5-$4.7 billion (over Rs 20,000 crore) in telecom in the next five years, according to Bank of America-Merrill Lynch (BofA-ML) research note about its investor conference.