Mukesh Ambani’s green push won’t stop oil from boosting his $80 billion fortune
NEW DELHI: Along the Arabian Sea, Jamnagar is a money-making machine for Asia’s richest man, Mukesh Ambani, processing crude oil into fuel, plastics and chemicals. It’s also where the billionaire is making his newest bet: A $10 billion investment in green energy.
In a swath of arid land, to the city’s southwest, Ambani’s Reliance Industries Ltd, owns the world’s biggest oil refining complex. It’s a sprawling network of plants and pipelines that can process 1.4 million barrels of petroleum a day in an operation covering half the area of Manhattan.
In fiscal 2021, Reliance generated about 45 million tons of carbon dioxide emissions from its own operations, which puts the company among the top such emitters in India, according to data on other companies tracked by Bloomberg.
