-RIL chairman said investment plans include Rs 2 trn on rapid rollout of 5G, Rs 75,000 cr in expanding O2C capacities across value chains and Rs 75,000 cr in new energy business
-Reliance Industries Ltd will invest Rs 75,000 crore in the next five years to expand petrochemical capacity, its chairman Mukesh Ambani said
-Jio has deployed standalone 5G stack rather than upgrading the existing 4G network, to offer ultra-high speed internet, says RIL chairman
-Reliance Jio has partnered with Qualcomm to develop 5G solutions for India, Mukesh Ambani said
New Delhi, NFAPost: Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL), on Monday announced investment plans to the tune of Rs 3.5 trillion at the 45th annual general meeting of the company.
In his speech, Ambani said investment plans include Rs 2 trillion on rapid rollout of 5G, Rs 75,000 crore in expanding O2C capacities across value chains and Rs 75,000 crore in new energy business, as announced last year, with potential to double the commitment based on scalability of evolving models.
Ambani announced that RIL will invest Rs 75,000 crore in the next five years to expand capacities in existing and new value chains with an aim to maximise oil to chemicals integration and convert advantageous feedstock streams to high-value chemicals and green materials.
In the polyester value chain, RIL plans to build one of the worlds’ largest single-train PTA plant of 3 MMTPA capacity using surplus PX available.
A new 1 MMTPA PET plant at Dahej is targeted for completion by 2026. Polyester (PFY and PSF) capacity expansion of over 1 MMTPA to be completed in phases by 2026.
Reliance to be among top five producers of PVC globally. Plans to triple existing capacity with world scale plants at Dahej and Jamnagar in India and in the UAE.
The company announced 1.5 MMTPA of feedstock integrated PVC expansion at Dahej and Jamnagar in phases by 2026.
In the new materials business, India’s first and one of the world’s largest carbon fibre plants to be built at Hazira, in phases to become a multi decade growth engine for O2C.
Achieving carbon neutrality globally will require multi-decade of investments to the tune of $5 trillion per year making Reliance’s New Energy vision far more transformational and far more global, Mukesh Ambani said.
“We have made rapid progress to create an advanced manufacturing ecosystem for New Energy which will be fully integrated, backed by world class talent, built on pillars of technological innovation through strategic partnerships, to deliver modular, at scale, affordable and most modern manufacturing business based in India, for India and the world,” Ambani said.
Based on the world leading HJT technology of REC, RIL will work towards establishing 10GW of annual cell and module capacity by 2024 and scale it up to 20GW fully integrated quartz to module annual capacity by 2026.
“We will set up battery packs facility by 2023, scale it to 5GWh annual cell to pack manufacturing by 2024 and further scale it up to 50GWh by 2027,” Ambani said.
“We are one of the largest producers of grey hydrogen and will transition to gH2 by 2025. We are in advanced discussions with leading electrolyzer technology players to set up giga scale manufacturing in India,” he added.
“We are also setting up a new giga factory for power electronics for which we are in discussions with leading global players and aim to provide most affordable solutions without compromising on performance, safety, and reliability,” Ambani said.
RIL to invest Rs 75k cr in petrochemicals, textile biz
Reliance Industries Ltd will invest Rs 75,000 crore in the next five years to expand petrochemical capacity, its chairman Mukesh Ambani said.
Speaking at the company’s annual general meeting, he said the investments will be in setting up a PTA plant, expanding polyester capacity, tripling capacity of vinyl chain and a chemical unit in UAE.
Jio to invest Rs 2 trn in 5G; pan-India rollout by Dec 2023
Reliance Jio has earmarked Rs 2 trillion investment for 5G network and plans to launch the high-speed services in key cities by Diwali, RIL Chairman Mukesh Ambani said.
While speaking at Reliance Industries’ 45th annual general meeting, Ambani said Jio will roll out 5G services across India by December 2023.
“To build our pan-India true 5G network, we have committed a total investment of Rs 2 lakh crore. Jio has prepared the fastest ever and most ambitious 5G rollout plan for a country of our size. Within the next two months. That is by Diwali, we will launch Jio 5G across multiple key cities including metro cities of Delhi, Mumbai, Chennai and Kolkata,” he said.
Ambani said subsequently the company plans to increase Jio 5G footprint month-on-month until December 2023, to deliver Jio 5G to every town, every ‘taluka’ and every ‘tehsil’ of the country.
After buying spectrum worth Rs 88,078 crore in the auctions, Reliance Jio said earlier this month it is gearing up to roll out an advanced 5G network to make India a global leader in digital connectivity and solutions.
The company had emphasised that it is fully ready for 5G rollout in the shortest period of time, backed by nationwide fibre presence, an all-IP network with no legacy infrastructure, an indigenous 5G stack and strong global partnerships across the technology ecosystem.
Ambani during the AGM said with 5G in place, Jio will launch billions of smart sensors with connected intelligence that will trigger the Internet of Things and fuel the fourth Industrial Revolution.
“It will connect every one, every place and everything with the highest quality and most affordable data,” he said.
Ambani said Jio made strong progress in fibre and FTTH deployment with pan-India fibre-optic network of more than 11 lakh route kilometres. He said two out of every three new fibre-to-the-home (FTTH) customers are choosing JioFiber.
In about two years of commercial rollout of its fixed-line broadband services, Jio toppled 20-year-old state-run telecom company BSNL as top service provider in the segment in January.
“India is ranked 138th in the world in fixed broadband adoption. Jio will take India to be among the top 10 globally in fixed broadband adoption,” Ambani said.
Reliance to partner Qualcomm to develop 5G solutions
Reliance Jio, the nation’s largest telecom operator, has partnered with Qualcomm to develop 5G solutions for India, Mukesh Ambani said.
Speaking at Reliance Industries’ 45th AGM, he said the firm is partnering with Google to develop ultra-affordable 5G smartphones and Google Cloud.
It has now forged a collaboration with Qualcomm to develop a 5G solution for India, which can be taken to the rest of the world, he said.