RIL’s investment plans laid out at 44th AGM don’t seem excessive
Mukesh Ambani announced a thrust into green energy, and the launch of a new affordable smartphone at the 44th annual general meeting (AGM) of Reliance Industries. He also inducted the Saudi Aramco and PIF boss, Yasir Al-Rumayyan, on the board. There was more good news in that the partnership with BP is producing gas from KG-D6 basin. Aside from that, RIL will continue to expand its retail footprint and Jio Platforms will continue its push into 5G.
The oil-to-chemical (O2C) division receives a big ‘moral’ boost from the induction of a Saudi Aramco representative since this indicates concrete developments in the alliance with Aramco announced two years ago. The connection to the Saudi sovereign wealth fund is worth noting.
