Reliance AGM 2022 highlights
Published On: Monday, August 29, 2022 | By: Team KnowMyStock
Reliance Industries Limited (RIL) held its 45th annual general meeting (AGM) on Monday. RIL's chairman Mukesh Ambani made a slew of announcements. He said Reliance Jio 5G will be rolled out by Diwali across multiple key cities including metro cities of Delhi, Mumbai, Chennai, and Kolkata He said that the company will invest Rs 2 lakh crore for a pan-India 5G network. Reliance Retail will launch its FMCG business this year, Reliance Retail Ventures Ltd Director Isha Ambani said on Monday. The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, Meta and Jio Platforms announced the launch of an end-to-end shopping experience on WhatsApp, where consumers can shop from JioMart right within their WhatsApp chat. Mukesh Ambani announced that the company will be setting up gigafactories for photovoltaic panels, energy storage, green hydrogen, and for fuel cell systems.
Reliance plans to accelerate its committed Rs 75,000 crore investment in fully integrated New Energy manufacturing ecosystem at Jamnagar as it aims to establish 20 GW of solar energy generation capacity by 2025 for captive needs of round-the-clock (RTC) power and intermittent energy for Green Hydrogen.
Reliance also announced that it would develop the world's largest single-train PTA plant at Dahej with a capacity of 3 million tonnes per annum. The company will also develop a PET plant with a capacity of 1 MMTPA. Both projects will be completed by 2026.
Tags: #reliance AGM new announcements
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