Reliance Industries, chairman Mukesh Ambani on Friday announced setting up of national distribution centres in Madhya Pradesh with over 10 million square feet space across 45 locations.
Oil-to-telecom major Reliance Industries (RIL) on Friday became the first company in India to hit the market capitalisation of Rs 9 lakh crore. RIL was also the first company to reach Rs 8 lakh crore mark in August last year
Distributed solar rooftop company Fourth Partner Energy announced commissioning of eight solar power projects with a capacity of 3,116 Kilo Watt (KW) in Telangana. The projects have been set up under the 1,000 Mw grid-connected roof-top solar PV system scheme of Solar Energy Corporation of India (SECI).
Reliance Industries has put off bidding for the new gas it plans to produce from eastern offshore KG-D6 block to next month following a request from potential bidders, sources said.
Moody’s Investors Service on Wednesday said Reliance Industries’ announcement of sale of a 20 per cent stake in its oil to chemicals (O2C) business to Saudi Arabian Oil Company (Aramco) will reduce the company’s net leverage and is credit positive.
Saudi Aramco’s decision to invest in Reliance Industries’ oil-to-chemicals business is the first step towards a strategic partnership which will entail carving out the business into an independent company and growing it, says RIL’s executive director, PMS Prasad.
British energy giant BP will pay about Rs 7,000 crore for acquiring a 49 per cent stake in Reliance Industries’ fuel retailing network, billionaire Mukesh Ambani said on Monday. Last week, the two firms had announced a new joint venture to set up petrol pumps and retail aviation turbine fuel to airlines in India.
The Reliance Industries talks to grant a minority stake in its refining assets to Saudi Aramco have hit a roadblock over the valuation and structure of the deal, two people familiar with the matter said.
The proposal in the Budget to increase the Customs duty on polyvinyl chloride (PVC) while reducing those on naphtha and ethylene di-chloride (EDC) is expected to benefit Reliance Industries (RIL), Indian Oil Corporation (IOC) and others in similar business segments.
India’s Reliance Industries is seeking three liquefied natural gas (LNG) cargoes for delivery, with one a month in July, September and October, two industry sources said on Friday.