Reliance Industries to invest Rs. 1 lakh crore

Reliance Industries to invest Rs. 1 lakh croreOne of India's largest business groups, Reliance Industries said on Thursday that it is planning to invest a whooping Rs. 1 lakh crore in various business segments including petrochemicals and oil & gas besides retail and telecom.

The additional investment is aimed at doubling its operating profits in 4-5 years. RIL Chairman and Managing Director Mukesh Ambani announced that the new projects in petrochemicals and refinery business will be brought online in the coming 2 to 3 years.

The group expects the investments in refinery downstream to add30-40 per cent to margins while the retail sector investments are also like to be profitable in the next 3 years, according to Mr. Ambani. The group is set to roll out its 4G network in the country while it expects the shale gas production to jump ten times in five years from current 30 billion cubic feet.

"Even after this investment of Rs 100,000 crore, our balance sheet will be the strongest not only in India but in the world," he said.

He also said that the country's economic concerns re temporary and he has full confidence in the Indian economy has resilience to overcome the current woes and emerge even stronger.