Reliance to invest $5 billion in telecom

After having nurtured the telecom sector of his company and the carving of the business meant that the business went to younger brother Anil, the elder brother Mukesh Ambani seems to be in a tearing hurry. Mukesh Ambani-led RIL’s foray into the telecom sector will entail an investment of about $5 billion, for which it…

Reliance planning a takeover of LyondellBasell?

With signs of green shoots showing in economies worldwide, India¬† Inc’s appetite for overseas acquisitions got a fresh lease of life with Reliance Industries’ estimated $10-12 billion offer for a controlling interest in bankrupt LyondellBasell Industries. The deal by India’s largest private sector company controlled by Mukesh Ambani, if closed, will make it one of…

World’s biggest petroleum refinery complex opens in Jamnagar

Reliance Industries Ltd’s new refinery in western Gujarat state began processing crude this week, nearly doubling company output and creating the world’s biggest refining complex just as global demand retreats. After reaching full capacity of 580,000 barrels per day (bpd), the $6 billion project, one of the most sophisticated in the world, will make the…

Reliance buys into Gulf Africa Petroleum Corp

A picture of Reliance’s Jamnagar petrochemical refinery complex Refiner Reliance Industries said on Tuesday it had bought a majority stake and management control of east African oil retailer Gulf Africa Petroleum Corp (GAPCO) for an undisclosed sum. Reliance, India’s largest private company, operates a 660,000 bpd refinery in India. Reliance Petroleum Ltd, a subsidiary in…