Reliance Industries Ltd’s strong cash flow generation in the ‘best in class’ old energy business can fund the capex of the new energy business and in turn drive one of the fastest and most profitable net-zero transitions by 2035 amongst large energy companies, Goldman Sachs has said.
Billionaire Mukesh Ambani in 2020 set a 2035 target for Reliance, which operates the world’s largest single-location oil refining complex and also has an array of petrochemical units, to turn net carbon zero by 2035.
