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In less than three years, valuation of Reliance Retail has been doubled and the pace of this value creation is “unmatched globally”- Mukesh Ambani, RIL Chairman
Picture : Twitter/ ANI
Several marquee global strategic and financial investors have shown strong interest in Reliance Retail, which has raised USD 1 billion from Qatar’s sovereign agency recently, RIL Chairman Mukesh Ambani said adding that if it were listed on stock exchanges based on current valuation, the retail venture would be among the top four listed entities.
Speaking at the company’s annual shareholder meeting, he said after setting up two demo units for compressed biogas (CBG) at Jamnagar, Reliance has commissioned the first commercial scale CBG plant at Barabanki in Uttar Pradesh in a record time of just 10 months.
#WATCH | “New India is full of self-confidence. This India is unstoppable and tireless. India will rise as a leading nation. India’s G20 presidency is historic,” says Reliance Industries chairman Mukesh Ambani while addressing the 46th Annual General Meeting through Video… pic.twitter.com/RTINcbuPFI
— ANI (@ANI) August 28, 2023
In less than three years, valuation of Reliance Retail has been doubled and the pace of this value creation is “unmatched globally”, said Ambani addressing RIL shareholders as reported by PTI .
Further, Reliance Industries Ltd, the owner of world’s largest single-location oil refining complex, will set up 100 CBG plants to convert agri-waste into gas, its chairman Mukesh Ambani stated .
“We will rapidly scale this up to 25 CBG plants across India. Our target is to establish 100 CBG plants in the next 5 years, consuming 5.5 million tonnes of agro-residue and organic waste, thereby mitigating nearly 2 million tonnes of carbon emissions, and producing 2.5 million tonnes of organic manure annually,” he said.
