Billionaire Mukesh Ambani has invested Rs 12,725 crore more in his unlisted gas pipeline company, Reliance Gas and Transportation Infrastructure (RGTIL), by way of share capital and unsecured loans, helping the loss-making firm’s net worth turn positive at Rs 877 crore in 2016-17 from a negative net worth of Rs 2,519 crore in the previous financial year.
The company, which transports gas from the Andhra Pradesh coast to its clients in western India, is making huge losses as gas production from Reliance Industries’ Krishna-Godavari (KG) basin in the Bay of Bengal has declined. Read more
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