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This is an archive article published on June 18, 2010

RIL sets out new agenda for growth

Mukesh Ambani set out a new agenda of cooperation with younger brother Anil Ambani's ADAG Group.

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Mukesh Ambani,chairman of India8217;s most valuable Reliance Industries,set out a new agenda of cooperation with younger brother Anil Ambani8217;s ADAG Group and forecast more opportunities for his company in the power sector on Friday.

Speaking at the company8217;s annual general meeting of shareholders,he said the company was ready to provide gas to ADAG8217;s power plant when they were ready and looked forward to a harmonious and constructive relationship with the company.

Following are some of the highlights of Mukesh Ambani8217;s speech at the company8217;s annual general meeting.

POWER FORAY:

The end of the non-compete agreement between the brothers had opened up unbounded opportunities in the power sector,which would be a growth engine for Reliance Industries.

The company had plans for mega investments in the power sector,and aimed to bring project initiative to the sector.

RETAIL

Retail Retail,with 1,150 stores pan-India was equipped to be a national leader in the organised retail sector.

Organised retail would grow to 450 billion rupees in 5 years.

TELECOMS

Reliance would collaborate with strategic partners in telecommunications,and would follow and asset-light,partner heavy approach in the broadband space.

 

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