RIL eyes biotech, healthcare, M&As

RIL, he said, would invest another Rs 17,600 crore in 4-5 years for upstream oil and gas exploration and production. RIL will spend another Rs 3,000 crore for enhancing the polyester capacity to 2 mtpa and Rs 1,100 crore for hiking polypropelene capacity to 1.43 mtpa by March 2006.

‘‘RIL will continue to evaluate opportunities for acquisition in petrochem domain,’’ Ambani said. ‘‘Increase in scale, overseas forays and acquisitions and exports will enable RIL to become a global petrochem major,’’ he said.

On exploration, Ambani said RIL won five exploration blocks under the fifth round of NELP. RIL has made 10 more oil and gas discoveries in the last 12 months taking the total discoveries to 23, each named after his father Dhirubhai. ‘‘We want to increase to 100 Dhirubhai discoveries,’’ he said.

With global scale refinery facility and gas findings, he said RIL intends to become a ‘‘global energy major’’ while helping India secure its energy needs.