Reliance Industries Limited said today they decided to invest Rs
1.8 lakh crore across business in coming three years and the company decided 4G
broadband services in 2015 in view to break top 50 companies of the world.Reliance
Industries Chairman Mukesh Ambani, the world's richest energy billionaire,
unveiled his vision to achieve in next three years what the firm had done in 37
years of its listed history.Addressing the 40th annual general meeting of RIL, Ambani said Rs
1,80,000 crore will be invested in margin-enhancing petrochem units, expansion
of energy business, opening more retail stores and roll-out of telecom
business.RIL's telecom arm Reliance Jio Infocomm, which is the only company
to have nationwide permits for 4G services, will start rolling out broadband
services in the coming months.It will begin with field trials in August and commercial launch in
2015, he said.Ambani said the company, which last fiscal became the biggest
retailer in the country by revenue, is aiming doubling revenue from its retail
business every 3-4 years.While it looks to raising output from its eastern offshore gas
fields, RIL will in 2015-16 begin extracting gas from coal seams (coal-bed
methane or CBM) from Sohagpur blocks in Madhya Pradesh, Ambani said.
RIL,
which is currently ranked 135 on the Fortune 500 list of global companies, is
looking at breaking into the top 50, Ambani said.Meanwhile, Nita Ambani was today inducted into the company board."In the past 37 years, we invested Rs 2,40,000 crore, and in
this current three years' investment cycle, we will be investing over Rs
1,80,000 crore," Ambani said.Stating that RIL was at the mid-point of the investment cycle in
its history, he said the projects in petrochemicals, refining, retail and
telecom will come on stream over the next two fiscals."The next three years are transformational in RIL's
journey... By the time we finish four decades since our first public offering,
we will again be a radically different company. We hope to accomplish as much
in the next three years as we have achieved in the past 37 years," he
said.The company is strengthening each of its existing businesses. It is
looking to double business every 3-4 years and build India's pre-eminent
retailing company.
