Reliance to Invest $18 Billion, Aims to Double Profit

Ambani: Aspiring to be among the five largest and most profitable petchems producers focused on the Indian market. Reliance Industries has announced that it will invest Rs1 trillion ($18 billion) in its core businesses of petrochemicals, and oil and gas, as well as two new sectors: retail and telecommunication, as part of the company’s continuing transformation. Mukesh Ambani, chairman of Reliance, addressing a shareholders’ meeting in Mumbai recently, said that the investments would lead to a doubling in operating profit in 4-5 years. New projects in...

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