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Reliance to invest Rs 1.5 lakh crores in next 3 years: Mukesh Ambani
Mukesh Ambani, Chairman of Reliance Industries today said that the company would invest Rs 1.5 lakh crores in the next three years to boost output and grow.
Addressing shareholders at the annual general body meeting of the company he said that the company is resolved to be among the top 3 refiners in the world.
Speaking at length on the oil and gas exploration business, he said that the company targeted its first gas output in the East Coast in 2015. He also pointed out that shale gas would form one third of the company's production this year.
Speaking to shareholders on the retail business he said the same has crosses Rs 10,000 crores and has already achieved a cash breakeven. "The retail business will deliver a 50 per cent growth this year," he told shareholders,
The Reliance stock was trading marginally lower by 0.94 per cent in trade.
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