Reliance Industries (RIL) and British energy major BP on Thursday annnouced the creation of a joint venture energy vertical to work across the entire value chain, involving investment of $6 billion, or Rs.40,000 crore.
This would also develop their existing deep water gas fields in India’s eastern offshore to bring to fresh production 1 billion cubic feet per day of natural gas by 2022.
“We will invest Rs.40,000 crore over many years as new investment to bring in 30-35 million cubic metres of gas in next three-to-five years and sustain it over seven-to-eight years,” Reliance Industries Chairman Mukesh Ambani said at a press briefing here. Read more
Latest posts by Silicon India (see all)
- RIL, BP To Invest Rs.40,000 Crore In Energy Projects In India - June 17, 2017
- Gadkari Invites Investors To India\’s Infra Sector - May 12, 2017