Reliance Industries AGM: Key takeaways
In Reliance Industries' 39th annual general meeting (AGM), its chairman and CEO Mukesh Ambani assured shareholders that the company will invest Rs 1,50,000 crore over 3 years.
June 06, 2013 / 12:36 IST
Even as investors waited for the annual event apprising them of the developments of Reliance Industries, its shares were negatively hit. Following are the key takeaways from Reliance Industries' 39th annual general meeting (AGM), presided by its chairman and CEO Mukesh Ambani.
- To Invest Rs 1,50,000 crore over 3 years
- Oil & Gas business environment remains tough
- Remains debt free on net basis
- Petchem capacity to expand from 15 mtpa to 25 mtpa
- Silvasa Petchem plant to be operational this year
- To double paraxylene capacity at Jamnagar
- Jamnagar Refining Complex Operating at 110% capacity
- RIL-BP JV commenced exploration in East Coast
- To expedite appraisal of recent gas discovery
- Target for first gas from East Coast In 2015
- Revenues, EBITDA from US shale gas have doubled
- Shale gas to account for over one-third Of production this year
- Revenues from retail business has crossed of Rs 10,000 crore
- Retail business to deliver over 50% revenue growth
- Key vendor for launch Of 4G services finalised
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