RIL to invest $16 billion in petchem expansion
Reliance Industries will invest about USD 16 billion in expanding petrochemical production capacity and lower feed and fuel costs to boost profits.
RIL, according to a report by Barclays Equity Research, is investing USD 4.6 billion in an integrated gasification combined cycle (IGCC) project that will convert captive petrocoke to synthetic gas (syngas) which can be used to generate power, steam and hydrogen, which currently are being produced using expensive imported LNG.