Reliance Industries unveils ambitious plans at AGM

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, June 7, 2012, 12:43 [IST]

Reliance Industries will invest Rs 1 lakh crores in the next 4-5 years, Chairman of Reliance Industries Mukesh Ambani stated today, while addressing shareholders at the company's annual general body meeting.

Here are a few points/plans for the company according to excerpts of a speech by Mukesh Ambani:

* Reliance Industries to invest Rs 1 lakh crores in the next 4-5 years

* Company plans to double operating profits in the next 4-5 years

* Working closely with BP to solve reservoir issues

* Shale gas to become an important part of the E&P portfolio

* Have bought back 2.7 crores shares in buyback programme

* Investments in retail to create more job opportunities

* Have spent Rs 1929 crore for share buyback programme

* Valued added products to lead growth in petchem

* Petchem capex continuing in full swing

* Using 5 new crude varieties to augment margins

* Pursuing partnerships for crude supplies

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