More value added products from Jamnagar
Vibrant Gujarat 2019 has attracted additional Rs.3 lakh crore investment over the next 10 years from India’s conglomerate leader, home-grown Reliance Industries Ltd (RIL).
The investment was announced by RIL owner Mukesh Ambani on 18 Jan 2019 as Vibrant Gujarat presented investment opportunities in the state. RIL has already invested Rs.3 lakh crore in the past projects including petroleum and petrochemical refineries.
The new investments will introduce a big change in RIL businesses. The Group’s Jio network is 5G ready, moving on from 4G.
The two Jamnagar refineries will made product switch – prodcuing more value added products for petrochemicals and less petroleum products as India’s transport sector add on electric vehicles.
“As the world moves towards electrical vehicles, Reliance will use hydrocarbons less for fuel and more for producing high-value new materials with a wide range of uses in society,” Ambani said.
Oil to chemicals strategy will greatly boost exports and create employment, he added at the summit.
Separately, Reliance Foundation will invest Rs.150 crore at Pandit Deendayal University in Gujarat, making it of an international repute. fiinews.com
