MOSCOW (MRC) -- India’s Reliance Industries Ltd will become a major provider of clean energy in the country, Chairman Mukesh Ambani said, as the South Asian nation transitions to renewable energy sources from fossil fuels, reported Reuters.
India is one of the world’s biggest users of coal, and renewable energy such as solar power is a priority for Prime Minister Narendra Modi’s government.
"Can Reliance become a leading provider of clean and affordable energy to India? Yes we can and yes we will," billionaire Ambani said at a function on Saturday to mark 40 yr of the company.
Reliance, owner of the world’s biggest refining complex and also a leading petrochemicals player, expanded its tie-up with BP earlier this year to meet India’s rising fuel and renewable energy demand.
Reliance can also be a global producer of innovative materials and among the top 20 companies in the world, Ambani said. He didn't give details.
As MRC informed before, in February 2016, RIL was awarded a contract worth Rs. 100 crore to Petron Engineering Construction Ltd for its linear low density polyethylene (LLDPE) plant in Gujarat. The LLDPE plant is part of RIL's J-3 project in Jamnagar in the western Indian state of Gujarat. The J-3 project boasts of a petroleum refinery and allied petrochemical plants for the production of plastics and fibre intermediates.
Reliance Industries is one of the world's largest producers of polymers. Thus, the company produces among others polypropylene, polyethylene and polyvinyl chloride.
MRC