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Reliance to make an investment Rs.100,000 cr across its businesses, includes raising polyester capacity

YarnsandFibers News Bureau 2015-01-11 17:40:00 – Gandhinagar

Reliance Industries (RIL) has been an inseparable part of Gujarat's success story. Over the last three decades they have invested again and again to convert a business vision into a reality. The Mukesh Ambani led-Reliance Industries (RIL) at the 7th Vibrant Gujarat summit today announced investment of one lakh crore across its businesses, including the Gujarat petrochemical complex and raise polyester capacity, in the next 18 months. Prime Minister Narendra Modi as well as captains of industry and world leaders are attending the event.

RIL will invest over Rs.100,000 crore in the next 12-18 months in contributing to the Make In India and Digital India initiatives.

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 is investing in raising polyester capacity by 60 percent 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.

Ambani, the world's richest energy billionaire, speaking at the 7th Vibrant Gujarat Summit here, said that Prime Minister Narendra Modi's clarion call for boosting domestic manufacturing and job creation through Make in India campaign and Digital India initiative "have energised India and its enterprises".

India is marching forward with a clear vision to emerge as global power even when as most of the world is struggling with low growth. India can chart a path under Prime Minister Modi in the next few years to really become the fastest growing economy in the world. A goal that is possible to achieve.

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