RIL may announce investment initiatives in SEZ biz
Reliance Industries on Tuesday is likely to unveil major investment initiatives in upcoming retail, agriculture and SEZ businesses at the company's AGM, where Chairman Mukesh Ambani could announce a few oil and gas discoveries including in oversea...
By PTI |
MUMBAI: Corporate leader Reliance Industries on Tuesday is likely to unveil major investment initiatives in upcoming retail, agriculture and SEZ businesses at the company's AGM, where Chairman Mukesh Ambani could announce a few oil and gas discoveries including in overseas market.
The company may also broach investment opportunities in knowledge-related areas during the AGM, sources in the know said.
Ambani is estimated to be contemplating investment of around Rs 1,20,000 crore in new businesses, including Rs 70,000-80,000 crore for SEZs in Haryana, Jamnagar and Navi Mumbai, and Rs 10,000-14,000 crore in retail and agri businesses.
At its 32nd AGM of shareholders tomorrow, RIL is also expected to declare a dividend of 100 per cent, which was recommended by its Board of Directors at the time of the announcement of full-year results earlier last month.
The stock markets are also likely to eagerly watch the outcome of RIL's AGM, as the company is known to come out with some big announcements during this annual affair, the brokers said.
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Earlier this month, RIL announced its plans to invest nearly Rs 25,000 crore in the proposed SEZ unit in Haryana, which is likely to attract further investments worth Rs 1,00,000 crore from units to be set up in the zone.Last week, the company also announced its plans to invest Rs 1,500-2,000 crore in agri-retail businesses in West Bengal over the next three years, while another Rs 1,500-2,000 crore would be invested for bringing in natural gas to the state.
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