Reliance Industries: The Success Story Continues

Dhirubhai was a karmayogi. He always believed in karma and his work spoke louder than announcements. He has delivered some of the marvels to Indian industries. Keeping up with his tradition, RIL has implemented several world class projects during last few years.

RIL, in the past four years, has set up a world class refinery in record time with investment of $6 billion, one of the most cost competitive refineries in the world. The second unit of Jamnagar Refinery is the sixth largest single location refinery in the world. With the commencement of 29 million tones per annum (MMTPA) new refinery, Jamnagar Refinery has become the world’s largest refinery complex. The second unit of Jamnagar Refinery has special features like World’s Largest FCCU, World’s Largest Coker, World’s Largest Aromatics Complex, and India’s largest Sulfur Recovery Complex. The refinery also has a large sized captive power plant of 450 MW.

It has also developed world class oil & gas exploration project off the coast of Andhra Pradesh in record time with investment of Rs 34000 crore. KG D-6 is one of the world’s fastest developed projects, 2.5 years less than world average of 9 years for similar projects. Field development cost of KG D-6 is about $5 billion oil equivalent (boe), much less than the world average of $10 - $12 boe. Despite the manifold rise in the commodity, equipment and rigs cost, operating in harsh weather conditions, RIL has managed to contain its capital cost for the project.

During all this while, RIL forayed into retailing and opened its first store in November, 2006. Within 30 months time of opening up its first store, RIL has set up a retail network of more than 900 stores of 17 formats, across 77 cities of the country, with more than 4.2 million square feet area. In the meanwhile, RIL also launched India’s largest hypermarket in Ahmedabad in 2007.

All these projects have become reality, not only dreams or announcements, in record time.

RIL shareholders and stake holders trust its intent as it has always delivered what it said before time and in most economical manner thus, keeping the trust built by Dhirubhai alive. RPL shareholders gained (not lost), both in short term as well as long term, by their investments in the stock, keeping up the tradition of Dhirubhai of handsome returns to shareholders.

RIL has not only made money for its shareholders but will also save $9 billion each year of Government which goes out in importing the oil. Gas from RIL operated KG D-6 block will increase India’s GDP by $103 billion at peak production and will improve country’s current account deficit by 0.60% by 2014. KG D-6 gas will also substitute 7% of India’s oil consumption in FY2010 and about 10-11% during FY2011-14.

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