At the 44th Annual General Meeting of Reliance Industries Limited on Thursday, the conglomerate’s chairperson Mukesh Ambani announced they would be building four giga factories as part of the environment-friendly initiatives with an initial investment of Rs 75,000 crore for the next three years.
“Our Jamnagar complex will provide infrastructure and utilities to manufacture ancillary material and equipment needed to support these Giga factories so that all critical materials are available in time. We will also support independent manufacturers with right capabilities to be part of this nationwide ecosystem,” Ambani said. Experts opined that the move will help RIL make the most of emerging green energy business and make its business future-proof.
And the other side Reliance Jio has launched the new JioPhone Next in India. The new phone has been developed in partnership with Google. The company has announced that the new device will the cheapest smartphone not only in India but also in the world.
JioPhone Next will be available from 10 September on Ganesh Chaturthi. The phone will be first launched in India and then taken to the rest of the world.
He also announced Reliance Industries will complete the $15 billion oil deal with Aramco this year, Mukesh Ambani said at the 44th Annual General Meeting of Reliance Industries. The announcement came in wake of the induction of Yasir Al Rumayyan onto the board of Reliance Industries as an independent director. Reliance Industries will sell 20 per cent stake in its oil-to-chemicals business, comprising oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world’s largest oil exporter.