Reliance Industries to invest $30 billion over 5 years: Report

Indian energy major Reliance Industries plans to invest $25 billion to $30 billion in its major businesses over the next five years, the Economic Times newspaper said on Thursday.

Reliance, controlled by billonaire Mukesh Ambani, will mainly target petrochemicals, energy exploration and production, and telecoms businesses, the reported quoted the company as saying at an investor conference last week. 

A spokesman for Reliance, India's largest listed company with a market value of $68 billion, could not be immediately reached for comment.

Reliance plans to invest around $4.5 billion in telecoms, $10 billion on exploration & production of oil and gas, and another $10 billion to $12 billion on petrochemicals, the report said.

Reliance made a dramatic return to the telecoms business last year with a $1 billion acquisition of nationwide licence for broadband wireless spectrum.  

The company also holds stakes in three shale gas joint ventures with US firms.