| Reliance Industries held its 42nd Annual General Meeting in Mumbai. Mr. Mukesh Ambani, Chairman and Managing Director, addressed the meet.
Excerpts from the Chairman's speech RIL expects India to become a 10 trillion dollar economy by 2030
RIL Oils to Chemicals business achieved revenue of Rs 5.7 lakh crore, exports of Rs 2.2 lakh crore and EBITDA of Rs 52,041 crore.
RIL processed 68.3 million tons of crude during FY19 maintaining our record of over 100% operating rate. It achieved a GRM of $9.2 per barrel, maintaining a margin of $4.2 per barrel over the Singapore complex.
RIL Butyl Rubber project with equity and technology from SIBUR of Russia, one of the global leaders in this business, is nearing completion and will be commissioned this year.
Reliance and BP signed a Joint-venture in the petroleum retailing business. BP is acquiring 49% stake in its petro-retail business. Reliance will get Rs 7,000 crore from BP for this transaction
Saudi Aramco and Reliance have agreed to form a long-term Partnership in its Oil to Chemicals (O2C) division. Saudi Aramco will invest in Reliance for a 20% stake in Oil to Chemicals division at an Enterprise Value of US$ 75 Billion for the O2C division. Saudi Aramco and Reliance have agreed to form a long-term Partnership in our Oil to Chemicals (O2C) division. This Partnership will cover all of RIL's Refining and Petrochemicals assets, including 51% of the Petroleum Retail JV. Saudi Aramco will also supply 500 KBPD of Crude Oils on a long term basis to RIL's Jamnagar refinery.
RIL BP JV is likely to monetize over 3 trillion cubic feet of discovered resources in the KG D6 block. JV has committed an investment of Rs 35,000 crore in the three deep water fields in this block. These will commence production from the first half of 2020. It expects a peak production of one billion cubic feet per day, equivalent to nearly 30% of India's current indigenous gas production
RIL JIO's customer base has crossed 340 million users. It is signing up more than 10 million new customers each month.
RIL has invested nearly Rs 3.5 lakh crore towards creating a state-of-the-art digital infrastructure across India, with the largest optical fiber footprint.
The core and aggregation layers of Reliance Jio converged network have been 5G ready since day one
Reliance Jio is ready to kickstart four more engines of connectivity revenue for Jio- Internet of things all over India, Home Broadband, Enterprise Broadband and Broadband for small and medium businesses. Revenues from each of these engines will kick-in within this FY20 itself.
Reliance Jio internet of things has a potential of Rs 20000 crore revenue per year which will be commercially available starting 1st January, 2020.
Reliance Jio Home broadband has received over 15 million registrations from nearly 1,600 towns
Relianec Jio is launching JioFiber services on a commercial basis from 5th September. JioFiber plans will be priced between Rs 700 to Rs 10,000 per month
Premium Jiofiber customers will be able to watch movies in their living rooms the same day these movies are released in theatres. Reliance Jio plan to launch this service in the middle of 2020
Over the next 12 months, Reliance Jio plans to install across India one of the largest blockchain networks in the world with tens of thousands of nodes operational on day one
Reliance Retail business has grown phenomenally, registering a 7-fold increase in revenue and a 14-fold increase in profit in the last six years
Reliance 72 television channels reach 800 million Indians, representing more than 95% of the TV-viewing universe. |