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23 April, 2024 16:22 IST
Key takeaways from Reliance Industries AGM
Source: IRIS | 18 Jun, 2014, 11.53AM
Rating: NAN / 5 stars.
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Reliance Industries, the leading private sector enterprise with businesses in the energy and materials value chain, held its 40th Annual General Meeting (AGM) today.

Mukesh Ambani, chairman and managing director, said his company will invest Rs 1,800 billion across businesses over next 3-years.

Ambani said Reliance Jio, which has pan-India permit to roll out 4G services, will be the company's most transformational business. He hopes to launch broadband services soon.

Reliance Retail has grown 33% in last year, Ambani said. He said the company aims to double retail business every 3 to 4-years.

Following is the key takeaways from Chairman Mukesh Ambani's speech:

>Continue to be the largest refiner in India

>Refining business continues to see high capacity and utilization

>Effort made to maximize production at existing KG-D6 field

>Silvassa polyster capacity to strengthen textile presence

>Reliance accounted for 14.7% of total exports from India

>KG-D6 has save India's Forex reserves by USD 33 billion

>Regulatory approvals, market based gas prices key for oil and gas

>Petrochemical business will get the highest allocation of capital

>FY15, FY16 to focus on retail, Petrochemical & telecom investments

>Retail, Us Shale gas material contributors to rev & profit

>Brought 395,000 in polyester capacity on stream in silvassa

>On schedule to complete all new Petrochemical projects in 24 months

>Started coal gasification project construction in Jamnagar

>Petrochemical refining business saw highest volumes in FY14

>Processed more than 68 mt crude last year

>Coal Bed Methane Gas production to start from FY16

>Looking at increasing international presence apart from in US

>Working with govt to resolve issues w.r.t KG-D6

>Reliance Jio will be one of the largest wealth creator business

>Reliance Jio will cover 5,000 towns & 2.5 lakh villages initially

Shares of the company gained Rs 2.35, or 0.22%, to trade at Rs 1092.25 at the BSE (11.46 a.m., Wednesday).

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