Reliance Industries Limited (RIL) is planning to focus on New Materials and Green Chemicals and is therefore evolving a vision for this exciting opportunity.

Speaking about New Materials and Green Chemicals, Mukesh D. Ambani, CMD, Reliance Industries said, "We will kickstart this by strategically investing in India's first world-scale carbon fiber plant for supporting our hydrogen and solar ecosystems. You will hear more about this in the months to come."

Explaining about the Green Vision initiatives which will have immense benefits for O2C business, Mukesh D. Ambani said, "First, we will use solar energy on an economically attractive basis to decarbonise our existing O2C business and accelerate our journey to become net carbon zero. Second, we will use Green Hydrogen and CO2 as raw materials to develop a road map for new Green Chemicals, Green Fertilizer and e-fuels. Third, we will commercialise with global partners our own world-beating proprietary Multi-zone Catalytic Cracking (MCC) technology to optimise the fossil fuel transition to sustainable chemical and material building blocks."

"Thus, we will transform our legacy business into a sustainable, circular and net zero carbon materials business. One that will provide growing returns over several decades. And we will do this by repurposing our existing assets to extend their economic life and earning capacity. In doing so we will have no legacy asset write-downs in the coming years," commented Ambani.

"New energy and new materials are not merely another business for us. It is our mission to heal the environment. It is an expression of Reliance's commitment that we care for our beautiful and bountiful planet," added Ambani.