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World News and Views :: Top of the News
Reliance Industries to Invest $18 Billion, Aims to Double Operating Profit
7:38 AM MDT | June 7, 2012 | Natasha Alperowicz
Reliance Industries announced today that it will invest Rs1 trillion ($18 billion) in its core businesses of petrochemicals, oil and gas as well as new sectors of retail and telecommunication. Mukesh Ambani, chairman of Reliance Industries, addressing a shareholders’ meeting in Mumbai today, said that the investments will lead to a doubling in operating profit in four to five years. New projects in petrochemicals and refinery sectors will come online in the next two to three years, he said. "Our aspiration is to be among the five...
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