Reliance’s oil-to-chemicals business could be valued at $69 billion, digital services business at $66 billion and retail business at $81.2 billion.
Presently Reliance Industries is divided into three verticals.
Billionaire Mukesh Ambani-led Reliance Industries Limited’s plan to invest Rs 75,000 crore in new energy business will take the total valuation of its new energy business to $36 billion or Rs 2.6 lakh crore. Reliance, which has a business ranging from oil to petrochemicals (O2C), fuel plants and fuel retail business and digital services, will now start a new energy business.
US-based brokerage Bernstein Research said in a report that Reliance is preparing to invest in solar photovoltaic cells, green hydrogen, electricity storage batteries and fuel cells. Industrialist Mukesh Ambani had announced a big step in the field of green energy at the company’s annual general meeting last month. He had announced an investment of Rs 75,000 crore to set up four large capacity manufacturing plants in the next three years to manufacture solar photovoltaic cells, green hydrogen, power storage batteries and fuel cells.
Aramco chairman inducted into Reliance’s board
Apart from this, Reliance had announced the inclusion of the chairman of Saudi Aramco on the board of directors and the launch of new Jio smartphones. The report said, ‘The new energy sector may increase the valuation of Reliance. Based on the capital expenditure for clean energy, Reliance’s clean energy business could be worth $36 billion.
O2C business valued at $69 billion
In addition, the oil-to-chemicals business is expected to be valued at $69 billion, the digital services business at $66 billion and the retail business at $81.2 billion. While the oil and gas exploration business is valued at $4.1 billion and the media and other sectors business valuation is about $3.7 billion. The total valuation of the company’s business is $261 billion.
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