Mukesh Ambani: RIL to complete projects worth Rs. 2 lakh crore in next 12-18 months.

Reliance Industries Limited will be completing projects worth Rs. 2 lakh crore in the next twelve to eighteen months, chairman Mukesh Ambani said recently.

Looking to reap full benefits of these investments from the financial year 2016-17 onwards, Ambani said RIL would have a unique portfolio of globally competitive petrochemical and refining business with a new age India-centric consumer business with very high growth potential.

'This will place Reliance in a select group of most valuable companies in the world,' he said, addressing shareholders at the annual general meeting of Reliance Industries Ltd (RIL), which also operates the world's largest crude oil refining.

The billionaire industrialist also unveiled a roadmap focused on adding capacity in core businesses and expanding rapidly in new ventures like retail and telecom.

Over a third of Ambani's more-than-one-hour-long speech was focussed on RIL's plans to use the 4G or fourth-generation telecom technology, also known as LTE or Long-Term Evolution, to offer wireless broadband as well as voice services.

Ambani said Reliance is investing over Rs. two lakh crores in building new facilities and creating new businesses that will come to fruition in the next 12 to 18 months.

TOI