Mukesh Ambani's AGM announcements on Jamnagar,Gandhar,Vadodara
Reliance Industries Limited Chairman Mukesh Ambani in his 36th AGM meeting held at Mumbai on 18 June, 2010, announced several new plans for RIL’s projects located in Gujarat. Following are excerpts of Ambani’s speech where something related to Gujarat is mentioned.
Vadodara(Baroda)
“Reliance is the largest player in the synthetic rubber business in India. We want to build on this leadership to become one of the top ten Elastomer companies in the world.”
“Reliance will create additional capacities of poly Butadiene rubber at Baroda and styrene butadiene rubber at Hazira. And butyl rubber in a JV partnership with SIBUR to complete a comprehensive portfolio in the synthetic rubbers domain.”
Jamnagar and Gandhar
“The Asian demand for polyester will grow rapidly as several end-user industries are shifting their base to Asia. The phenomenal India growth story will also create additional demand. I am plesaed to inform that we are executing 1.4 million tons of Paraxylene capacity at Jamnagar.”
“We are also setting up an integrated 2.3 million tons of purified Terephthalic Acid, 540,000 tons of Polyethylene Terephthalate complex at Gandhar(Gujarat), 360,000 tonns of polyester filament yarn plant at Silvassa. These initiatives translate to the single largest capacity addition in Polyster in the history of Reliance. This expansion will strenghthen India’s position as a leading textile and fibre producer in the world.”
“We will value-add Kerosene to Normala Paraffin at Jamnagar to address the growth opportunity in the growing Indian detergent market. “
“Along with the petrochemical facilities, Reliance will go ahead and build one of the largest coke gasification facilities in the world. This will significantly increase the complexity and profitability of the refinery and also make it more enviornment friendly. The new petroleum refinery with superior gross margins coupled with value addition through off gas cracker, paraxylene and coke gasification will significantly enhance the profitibility from the Jamnagar complex.”
For full text of Mukesh Ambani’s AGM speech click here
If Mukesh Ambani keeps promise,Gujarat will get a world-class university