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Thursday, June 12, 2008

Reliance to explore alternative energy segment



Reliance Industries on Thursday said it will explore avenues in
alternative energy, in a bid to further expand its position in the
energy segment.

"The second potential avenue for growth and transformation is in
alternative energy," RIL Chairman Mukesh Ambani said during the
company's annual general meeting here. "This is a natural extension of
our conventional energy portfolio."

He said further details would be shared "once the company has a
concrete value creating plan in place".

Ambani added Reliance would commission two very large projects in the
second half of this financial year, a move that will enable the
company to become major global energy player.

The two projects, new Jamnagar refinery and East-West pipeline
project, are focused on the energy growth platform and would help
transform the country's energy security.

India needs energy security for sustaining its high growth and in the
process Reliance is poised for a historic leap, Ambani said.

"Reliance is all set to become one of the the world's leading energy
giants from India's number one company," he added
 
 
 

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