Vibrant Gujarat Summit: Reliance Industries to invest Rs 1 lakh crore in 'Make in India'
IANS January 11, 2015
The Mukesh Ambani led-Reliance Industries (RIL) will invest Rs 1,00,000 crore across its businesses, including the Gujarat petrochemical complex, in the next 18 months.
"We will invest over Rs 1,00,000 crore in the next 12-18 months in contributing to the Make In India and Digital India initiatives," Mukesh Ambani said on Sunday at the 7th Vibrant Gujarat Summit.
Prime Minister Narendra Modi as well as captains of industry and world leaders are attending the event.
The investments will be in expanding RIL's petrochemical production capacity as well as through launch of its 4G broadband services.
As part of the investment programme, RIL will partner thousands of small businesses and Gujarati entrepreneurs to create virtuous cycle of prosperity, Ambani said.
"Reliance has been an inseparable part of Gujarat's success story. Over the last three decades, we have invested again and again to convert a business vision into a reality," he added.
Reliance is investing in raising polyester capacity by 60 per cent across four locations, in a new 1.5 million tonnes refinery of gas-based petrochemical cracker and downstream units in Jamnagar, enhancing refining profitability through petroleum coke gasification and reducing feedstock costs by ethane imports from the US.