RIL to invest $8-9 bn in Jamnagar over next 3-4 years

RIL to invest $8-9 bn in Jamnagar over next 3-4 years


Mumbai: Reliance Industries chairman and managing director Mukesh Ambani said on 12 October the company will invest $8-9 billion in the next three to four years in the Jamnagar ‘Super Site’.

The Jamnagar ‘Super Site’ will have a 6-million-tonne-per-annum Integrated Combined Cycle Coke Gasification Complex (IGCC), an olefins complex and an aromatics complex.

At the company’s 33rd Annual General Meeting here, Ambani said RIL would expand paraxylene capacity at Jamnagar from 1.9 million tonnes per annum (MTPA) now to 4.5 MTPA in two phases.

“With this expansion, Reliance will have 15% of global paraxylene capacity," Ambani said, adding that the expansion would enable the company to build a leadership position in the global polyester business.

Concurrently, the company will leverage India-based strength to pursue inorganic growth opportunities in Asia for textiles and in Europe and North America for PET, he said.

Ambani also said RIL would build the world’s largest petrochemical complex at Jamnagar with an annual capacity of two million tonnes of olefins, with matching downstream capacities.

“It will also be one of the most competitive ethylene crackers in the world and with this complex, the ethylene capacity of Reliance will further double to 3.2 billion tonnes per year," Ambani said.