Reliance Industries to complete Rs 2 lakh crore of projects: Mukesh Ambani

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, June 12, 2015, 11:40 [IST]

Reliance Industries will complete Rs 2 lakh crore of projects over the next 12-18 months, Chairman Mukesh Ambani told shareholders at the company's 41st annual general body meeting.

Reliance will commission its 1.15 million PTA plant by Oct this year, Mukesh Ambani said, thus making the company the 5th largest PTA manufacturer in the world.

Mr. Ambani spoke extensively on the retail business of the company. Elaborating on the retail business he said that the retail business had achieved a turnover of Rs 17,000 crores. "Reliance Retail to scale up presence from 200 cities to 900 cities by next year," he said.

RIL will entail seamless integration of online and offline while innovating across superior customer experience.

He also spoke at length on the company's foray into the 4G space through Reliance Jio. "Jio will cover nearly 80 per cent of India's population by year end. We seek 100 per cent India coverage by Jio within next 3 years," he said.

Jio is now present in all 29 states of India, with a direct physical presence in 18,000 cities & towns of India.Shares in Reliance were trading marginally higher by 1% in trade.

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