Reliance to invest Rs 75,000 crore in O2C business

Reliance Industries (RIL) plans to invest Rs 75,000 crore in its oil-to-chemical (O2C) business over the next five years to expand capacities in polyester & vinyl verticals and also set up the country’s first carbon fibre plant at Hazira.

Carbon fibre, used in mobility and renewable energy because of its lightweight properties, promises to be a multi-decade growth engine for the O2C segment, RIL chairman Mukesh Ambani told shareholders at the company’s annual general meeting.