Reliance Industries Ltd. Chairman Mukesh Ambani announced a timeline from 5G rollout to his succession plan at the company’s 45th annual general meeting.
The company will invest Rs 2 lakh crore toward 5G rollout and Rs 75,000 crore for the oil-to-chemicals business. Ambani also offered production timelines for four gigafactories announced last year, and disclosed plans for a new power electronics giga factory.
Besides, he announced Reliance Retail’s tie-up with WhatsApp to facilitate Jio Mart customers to trade via the app. Ambani even outlined a leadership transition that is already underway at the company.
Here are some key highlights from the AGM.
Telecom
Jio 5G
To build pan-India True-5G network, Jio will invest Rs 2 lakh crore.
Jio 5G Services will be launched by Diwali in Metro cities of Delhi, Mumbai, Kolkata, and Chennai. It will be expanded to other cities and towns in phases to cover entire India in 18 months by December 2023.
Unlike other operators, Jio’s 5G network will be standalone with zero dependency on 4G network.
Standalone 5G will allow Jio to deliver low latency, machine-to-machine communication, 5G voice, Edge computing and network slicing, and metaverse.
With 5G, Jio will launch billions of smart sensors with connected intelligence that will trigger internet-of-things and fuel the fourth industrial revolution. It will connect every-one, every-place and every-thing with the highest quality and most affordable data.
JioAirFibre
Jio launched JioAirFibre that will provide fibre-like data speeds over the air without any wires.
JioAirFiber Home Gateway, will be a wireless, simple, single-device solution to have a Wi-Fi hotspot in a home, connected to ultra-high-speed internet using True 5G.
Will quickly connect any home or office to Gigabit-speed Internet.
Ties with Qualcomm
Jio also forged a collaboration with Qualcomm to develop 5G solutions for India, which can be taken to the rest of the world.
Reliance Retail
Launch of FMCG business
Isha Ambani announced that this year, Reliance Retail will launch its fast-moving consumer goods business with an objective to develop and deliver high quality, affordable products to solve every Indian’s daily needs.
Meta and Jio Platforms have collaborated to launch JioMart on WhatsApp to provide shopping experience on the app.
Oil-To-Chemcials
RIL commits Rs 75,000 crore investment in O2C over the next three years.
Reliance will expand capacities in existing product lines as well as add new value chains with aim to maximise Oil to Chemicals conversion
Create integrated streams of value-added chemicals and Green materials from feedstock.
Investment in polyester value chain
Set up one of the world’s largest single-train PTA plant of 3 MMTPA capacity that will use surplus paraxylene (PX) available.
New 1 MMTPA PET plant at Dahej will be completed by 2026.
Sustainability Initiatives
Reliance will more than double polyethylene terephthalate (PET) bottle recycling capacity to 5 billion bottles a year to strengthen leadership position in PET recycling.
Reliance scientists have developed an innovative process to produce bio-degradable and compostable plastics that can completely replace single-use plastics.
Green Energy Giga Complex
The 100 GW Solar PV cell and module manufacturing factory at Jamnagar will commence production by 2024.
To scale up to 20GW annual capacity in a phased manner by 2026.
This will be first ‘quartz-to-module’ facility globally. It will produce everything from quartz, to metallurgical silicones
Power Electronics/Glass And POE Film Foray
In addition to the four gigafactories announced last year viz. solar panels, energy storage solutions, electrolysers and fuel cells, Reliance will also set up a new gigafactory for power electronics.
It is a critical component to the entire value chain of green energy.
It will integrate with RIL’s capabilities of telecommunications, cloud computing and IoT platform.
Green Energy Investment
Reliance plans to accelerate its committed Rs 75,000 crore investment in fully integrated new energy manufacturing ecosystem at Jamnagar as it aims to establish 20 GW of solar energy generation capacity by 2025 for captive needs of round-the-clock power and intermittent energy for green hydrogen.
Once proven at scale, RIL is prepared to double the investment to scale up the manufacturing ecosystem.
Besides solar and hydrogen, Reliance is also actively progressing on bio-energy, offshore wind, geo-thermal and other non-conventional forms of renewable energy, and will continue to expand its manufacturing ecosystem accordingly.
RECOMMENDED FOR YOU
POPULAR