Monday, November 29, 1999

Reliance Industries sets out new agenda for growth

News posted by

Mukesh Ambani, chairman of India's most valuable Reliance Industries , set out a new agenda of cooperation with younger brother Anil Ambani's ADAG Group and forecast more opportunities for his company in the power sector on Friday.Speaking at the company's annual general meeting of shareholders, he said the company was ready to provide gas to ADAG'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 Ambani's speech at the company'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.(Compiled by Janaki Krishnan; Editing by Unnikrishnan Nair)(For more business news on Reuters India click
News posted by
Click here to read more news from
Please follow our blogs



No comments:

Post a Comment