Over the next 5 years, Reliance Industries Limited (RIL) will invest Rs. 75,000 crore and expand capacities in existing and new value chains in O2C (Oil to Chemicals) business, says Mukesh D. Ambani, Chairman & Managing Director, Reliance Industries Limited (RIL) while speaking at the 45th Annual General Meeting (Post-IPO).

We are committed to maximize Oil to Chemicals integration and convert our advantageous feedstock streams to high-value chemicals and green materials, commented Ambani. 

"First, in the Polyester value chain, we will build one of the worlds' largest single-train PTA plants of 3 MMTPA capacity at Dahej. We will also invest in a 1 MMTPA PET plant at Dahej. Both PTA and PET will be targeted for completion by 2026. We will also reinvest in Polyester Filament Yarn (PFY) and Polyester Staple Fibre (PSF). Polyester expansion with a capacity of over 1 MMTPA will be completed in phases by 2026," said Ambani.

"Second, in the Vinyl chain, we will more than triple our existing capacity by adding world-scale plants at Dahej and Jamnagar in India, and also in the UAE. We will aim to complete 1.5 MMTPA of feedstock integrated PVC expansion at Dahej and Jamnagar in phases by 2026. We will also add capacities to make EDC and PVC at Ruwais, in the UAE, as part of Ta'ziz Chemical Zone. The joint venture with ADNOC and ADQ will target the full domestic demand of the region. With these expansions, Reliance will rank among the Top 5 producers of PVC globally," commented Ambani.

"Third, consistent with our vision for New Materials, we will build in phases India's first and one of the world's largest Carbon Fibre plants at Hazira with a capacity of 20,000 MTPA, based on Acrylonitrile feedstock. We will commence Acrylonitrile production next year and aim to complete the first phase of the carbon fibre plant in 2025," added Ambani.

"We will further integrate our composites business with Carbon Fibre to produce Carbon Fibre composites. Besides other applications, Carbon Fibre composites are also used to meet the rapidly growing light-weight requirements of Mobility and Renewable Energy. Thus, Carbon Fibre promises to be a multi decade growth engine for O2C," said Ambani.

We will strengthen our leadership position in PET recycling by more than doubling our bottle recycling capacity to 5 billion bottles a year, Ambani said.

Reliance has commenced its journey to become net carbon zero by 2035 with a set of concrete actions. The company has extensively started consuming biomass as fuel to produce green energy at scale. Within a span of just one year, the company has replaced almost 5 percent of energy consumption at its Dahej and Hazira sites by green power and green steam.