Addressing an annual meeting of shareholders, Mukesh Ambani, the world’s

fourth-richest man, said Reliance Industries will continue to invest in the

development of shale gas in North America as part of its strategy to become a
significant player in the business.

Reliance Industries said it will foray into the electricity business and re-enter
telecommunications as it sets out to diversify after the recent scrapping of a non-
compete pact between its billionaire founder, Mukesh Ambani, and his younger
brother, Anil.

Mukesh Ambani said the cancellation of the agreement and the signing of a new
pact with Anil has opened up the “full range of power business for Reliance except
non-captive gas-based power plants until 2022.”

“This paves the way for Reliance to participate in the whole value chain of the
power business spanning generation, transmission and distribution,” Ambani said.
“We are ready to bring into full play our investment mobilization capabilities into a
sector that is crying out for transformational mega-initiative.”

He said Reliance Industries is preparing “specific plans for mega-investment in this

sector with clean coal-based power generation projects, hydel projects and also in
nuclear power as and when it is opened up (to private companies).”

Reliance Industries is also focusing on alternative energy, he added.

Key Takeaways from Mukesh Ambani’s AGM Speech –

Supply of gas to ADAG power plants subject to Government allocation; Look

forward to a harmonious and constructive relationship with ADAG

Investment in Capex of Rs. 21,943 crore in difficult operating environment and

paid Rs. 17,972 crore in taxes and duties an increase of 55%

To embark on largest capacity addition in polyester

To also make new investments in petrochemicals including a gas cracker; largest

investment in this sector anywhere in the world
RIL to build one of the largest coke gasification facilities making the Jamnagar
refinery a “bottomless refinery” in terms of value creation

E&P to focus on growth, production assurance and reserves accretion; Accelerated

development in KG, Mahanadi, Cambay and Coal Bed Methane blocks

India to pole vault from 1G and 2G to 4G and beyond; Wireless Innovation Centre
in Mumbai to develop products for 4G; Infocomm could potentially be as big an
opportunity as energy business

Reliance Foundation to develop World Class University, Sir HN Hospital and

innovative low cost high output efforts in Sustainable Agriculture, Will also aim at
preserving and promoting Indian art and culture

RIL to double enterprise value of USD 80bn within the next decad