Reliance AGM 2022: Mukesh Ambani Outlines Details Of Capex Worth Rs 3.5 Lakh Crore
Mukesh Ambani offers details of investments worth Rs 3.5 lakh crore in telecom, oil-to-chemicals and new energy businesses.
Reliance Industries Ltd. Chairman Mukesh Ambani said the group plans fresh investments worth Rs 2.75 lakh crore on telecom and energy businesses, in addition to the capex announced last year.
While addressing shareholders at the 45th annual general meeting, Ambani said that over the next five years, the group will spend:
Rs 2,00,000 crore on rapid rollout of 5G.
Rs 75,000 crore in expanding oil-to-chemicals capacities across value chains.
Rs 75,000 crore in new energy business, as announced last year, with the potential to double the commitment based on scalability of evolving models.
Reliance’s capital allocation and financial framework is based on capturing opportunities in identified growth areas, while maintaining optimal capital structure and superior investment grade ratings, Ambani said. These investment outlays factor the company’s strong and growing operational cash flows and robust balance sheet and are in line with the framework, he said.
