Reliance Industries (RIL) expects to commission projects with a total investment of $35 billion in 2016-17. These include petrochemical expansion projects that would place RIL among the top 10 global producers in that sector, the company said in its annual report for 2015-16.
RIL has also sought shareholders’ approval to raise Rs10,000 crore through non-convertible debentures (NCDs) this fiscal year. “In the polyester chain, we added substantial volumes in an effort to further integrate our business …Reliance is confident of placing all our incremental output from the new projects in the domestic markets to meet India’s growing demand,” chairman Mukesh Ambani said in a letter to shareholders. RIL said its petrochemical plant expansion was on schedule and would provide the company the capacity and earning potential of a top pro ducer in the world. It is also upbeat on the impending launch of the Reliance Jio Infocomm telecom service.