Business IdeasRIL to expand petrochemical complex by 2 MT
Mukesh Ambani-run Reliance Industries (RIL) today said it will expand its Jamnagar petrochemical complex by adding 2 million tonnes (MT) per year of olefins and matching downstream capacities.
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"Reliance has taken up new petrochemical capacity additions," RIL Chairman and Managing Director Mukesh Ambani told shareholders at the company"s 35th annual general meeting here.
Ambani said the company wants to realise a commitment it made in 2007 of adding 2 MT per year of olefins (key ingredient for making polymers) and matching downstream capacities at its petrochemical complex at Jamnagar.
"The recent economic downturn has also provided us opportunities to optimise capital costs, schedules and execution methodology for these projects. With this addition, Reliance will have close to 4 MT of olefins and downstream capacities," he said.
Reliance Industries has a comprehensive petrochemical play across polymers, synthetic rubbers and chemicals.
This has been strengthened with the commissioning of the 9,00,000-tonnes per year polypropylene plant at Jamnagar, making the company the fourth largest polypropylene producer in the world.