The chairman of Reliance Industries Ltd, billionaire Mukesh Ambani, recently unveiled plans to spend nearly INR1.5 trillion or US$26 billion in the next three years for the expansion of interests into industries such as gas production and telecommunication.
Currently, the company is increasing the capacity of its petrochemical plants as well as constructing new ones in order to improve its revenue margins in its refinery business. According to Ambani when he told the shareholders of the plans, the company would start drilling more wells in a bid to boost declining oil and natural gas production. Other details include opening more retail outlets as well as start the infrastructure for a high speed broadband service.
According to Ambani, "Reliance has embarked on the largest investment program in its history. Reliance is making significant investments is(sic) all five businesses simultaneously."
Currently, the company operates oil and gas production facilities, refineries, petrochemical plants, telecommunications operations as well as retail units for the aforesaid businesses.
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