RIL plans to raise $2 bn for oil & gas projects

Corporate giant Reliance Industries Ltd on Wednesday said it plans to raise two billion dollars (about Rs 9,000 crore) for oil and gas exploration and production.

By PTI | Nov 01, 2006, 11.40 AM IST

MUMBAI: Corporate giant Reliance Industries Ltd on Wednesday said it plans to raise two billion dollars (about Rs 9,000 crore) for oil and gas exploration and production.

RIL said a meeting of its Board of Directors would be held on November 9 for approving a proposal to raise funds by way of Foreign Currency Convertible Bonds, syndicated loan or fixed or floating bonds.

The Mukesh Ambani-controlled company informed the Bombay Stock Exchange it would invest the funds raised, in projects of oil and gas exploration and production.

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