RIL plans to invest US$8bn in petrochemical projects

15 Mar '13

1 min read

Reliance Industries Ltd (RIL) is planning to invest Rs. 434.48 billion (about US$ 8 billion) in petrochemical projects over the next four years.

The petrochemical investment is part of the about US$ 27 billion investment planned by the company in various sectors from 2013-14 to 2016-17, according to a Deutsche Bank AG report prepared on the basis of one of its analysts’ meeting with one of RIL’s two joint chief financial officers (CFOs).

The report says the company would invest about 85 percent of the capex in its core business over the next four years, with the remaining going to new ventures like telecom, The Hindu said quoting PTI.

An amount of approximately Rs. 54.31 billion (US$ 1 billion) would go into the company’s retail business, the report adds.

The planned US$ 8 billion investment in the petrochemical sector is the most since the RIL completed its second oil refinery in 2008. The company plans to divert huge amount for expansion of its petrochemical business in view of the rising demand of polyester and plastics.

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