Mukesh Ambani on Friday told shareholders that Reliance Industries plans to invest $8-9 billion (Rs 31,496 to Rs 36,000 crore) in the Jamnagar Super Site.
RIL to invest $8-9 billion
MUMBAI: The Jamnagar complex is being transformed into a “Super Site”. Mukesh Ambani on Friday told shareholders that Reliance Industries plans to invest $8-9 billion (Rs 31,496 to Rs 36,000 crore) in the Jamnagar Super Site.
Even as he elucidated on the “five fundamental strategic shifts” taking place in Reliance, which envisages an “acquisition mode of growth” and “forging new partnerships”, the company would still be busy setting up billion-dollar greenfield projects “from scratch”.
By 2012, Jamnagar will have the world’s largest integrated combined cycle coke gasification complex (IGCC) with a capacity of 6 million tonnes per year. This complex will gasify all the petroleum coke from the refinery, adding to its complexity, “even more bottom-of-the-barrel upgradation and further value addition”, Mukesh said. The two refineries combined with IGCC , the olefins complex and the aromatics complex would make the Jamnagar complex as per industry parlance a super site. In polyester, the RIL chairman promised a “global textile play” apart from adding another half a million tonne per year of polyester capacity. RIl enjoys a 7% global market share in textile polyester business.
In paraxylene, the company will expand its capacity from 1.9 million tonnes per year to 4.5 million tonnes per year in two phases in Jamnagar with refinery integration. RIL hopes to have by then 15% global paraxylene capacity.
If this was not enough, the company is also building a new petrochemical complex in Jamnagar. “This will be the largest petrochemical complex in the world with a capacity of 2 million tonne per year of olefins with matching downstream capacities,” Mukesh said.
The chairman also hinted that Reliance will use the strength of the India play, by extending its participation to countries with feedstock advantage and high growth markets, such as Egypt and Russia.
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