The Hindu Business Line : Life Sciences is RIL's next big idea

RELIANCE Industries Ltd (RIL) will be investing Rs 42,600 crore over the next four years in its petroleum refining and E&P (exploration & production) activities.

Just as the company has set 2009-10 as a threshold year to emerge into a global energy major, life sciences has been identified as its next major initiative.

RIL is doubling petroleum refining capacity from 30 million tonnes to 60 million tonnes by 2008-09. The project, estimated to cost Rs 25,000 crore, will make the Jamnagar facility the largest single-location petroleum refinery in the world and will go into commercial production by 2009-10.

During the same period, the company will invest Rs 17,600 crore in upstream oil and gas exploration and production, Mr Mukesh Ambani told company shareholders here today.

As RIL will have enough surpluses for new acquisitions and initiatives, the company is expected to view inorganic growth as a fresh avenue for growth.

"I would like to take you into confidence on the broad contours of areas that RIL would explore and engage. Life Sciences is our next major initiative," Mr Ambani said.

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