Reliance Industries Ltd (RIL) plans to set up a petrochemical complex in Jamnagar that will nearly double its current capacity to 4 million tonnes a year. This was announced by RIL chairman and managing director Mukesh Ambani at the company’s 35th annual general meeting (AGM) in Mumbai.
Ambani said the new complex at Jamnagar would have the capacity to produce 2 million tonnes of olefins per year, besides other matching downstream capacities.
The RIL chairman said the company wants to fulfil a commitment it made in 2007. “At the 2007 AGM, I talked about a new petrochemical complex at Jamnagar, with 2 million tonnes per year of olefins, and matching downstream capacities.
Now that the oil and gas and the petroleum refining projects are commissioned, Reliance will work on making this world-class project a reality,” he said. Reliance will be expanding its presence in butadiene rubber and also investing in new styrene butadiene rubber plants to reinforce its position in the synthetic rubbers market.
The expansion will help RIL scale new heights in the world market. “These capacities would be leveraged on very competitive feedstocks,” Ambani said. “With all these bold transformational initiatives in the petrochemicals business, Reliance would be ready to take on the world.”
In petrochemicals, the company has commissioned a 9,00,000 tonnes per year polypropylene plant at Jamnagar, making RIL the 4th largest producer of polypropylene in the world, Ambani told shareholders.Reliance has a comprehensive presence in all areas of the petrochemical industry, including polymers, synthetic rubber and chemicals. While polyester gave Reliance its first growth trajectory, petrochemicals took it to the next level.
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