Mukesh Ambani, chairman of Reliance Industries Limited (RIL) announced 75,000 crore investment for the next five years for polyester value chain expansion, the building of carbon fibre plant, and plastic capacity expansion.
“We will build one of the world’s largest single-train PTA (purified terephthalic acid) plant of 3 MMTPA capacity at Dahej. We will also invest in a 1 MMTPA PET plant at Dahej. Both PTA and PET will be targeted for completion by 2026”, Ambani said at the company’s 45th AGM.
“We will also reinvest in polyester filament yarn (PFY) and polyester staple fibre (PSF). Polyester expansion with capacity of over 1 MMTPA will be completed in phases by 2026,” he said.
RIL vision is to build India’s first and one of the world’s largest carbon fibre plants at Hazira with a capacity of 20,000 MTPA, based on acrylonitrile (ACN) feedstock, the Chairman announced, “We will commence acrylonitrile production next year and aim to complete the first phase of the carbon fibre plant in 2025.”
Highlighting the RIL’s focus on sustainability, he said, “We will strengthen our leadership position in PET recycling by more than doubling our bottle recycling capacity to 5 billion bottles a year”
Reliance Retail Business Leader Isha Ambani said that the company’s fashion and lifestyle business has the widest physical reach with nearly 4,000 stores in more than 1,000 cities.
“Reliance Brands continues to bring more luxury and premium global brands to Indian customers. We have acquired and partnered with some of India’s top names in couture and fashion through a curation-led approach, to better serve luxury customers in India and abroad,” she said.
