RIL AGM 2022 Live: Highlights of Reliance Industries AGM 2022: Diwali 5G launch, succession plan, investment of Rs 75,000,000,000 in petchem expansion, etc.

Reliance Jio has earmarked an investment of Rs 2 lakh crore for the 5G network and plans to launch the broadband services in key cities by Diwali, RIL Chairman Mukesh Ambani has said. Ambani added that Jio will roll out 5G services across India by December 2023.

Mukesh Ambani has identified his youngest son Anant as the new energy business leader in Reliance’s succession plan. Akash and Isha have previously taken on leadership roles in Jio and Retail respectively. Reliance Industries Ltd will invest Rs 75,000 crore over the next five years to expand its petrochemical capacity. Mukesh Ambani said the investments will include the establishment of a PTA plant, expansion of polyester capacity, tripling of vinyl line capacity and a chemical unit in the United Arab Emirates. Isha Ambani announced the company’s foray into the fast moving consumer goods (FMCG) industry. Reliance Retail is India’s largest retailer with 15,196 stores selling groceries to high-end fashion and lifestyle items.
  • Qualcomm and Meta partnerships

Ambani said Reliance will partner with Qualcomm to provide cloud-based 5G network solutions for businesses, and with Meta Platform Inc to integrate its JioMart Group’s online shopping platform on WhatsApp, to allow users to browse and purchase groceries and other household products without leaving the popular messaging app. Reliance will add a fifth Giga plant for power electronics in addition to the four Giga plants for solar panels, energy storage, electrolyzers and fuel cells announced last year. Ambani has diversified the power plant conglomerate beyond its fossil fuel-focused business and into technology and renewable energy.

About admin

Check Also

Advisory Board – Sydney Environment Institute

Iain McCalman Professor Iain Duncan McCalman, AO, FRHistS, FASSA, FAHA, FRSN was born in Malawi, …