Mukesh Ambani – Profile

October 25th, 2010 - by admin
Mukesh Ambani - CMD, Reliance Industries Ltd.

Mukesh Ambani - CMD, Reliance Industries Ltd.

Mukesh Dhirubhai Ambani – business tycoon, industry icon, respected leader… Many are the adjectives that can be associated with the Chairman and Managing Director of Reliance Industries Limited, India’s largest private sector company.

FAMILY
Born on April 19, 1957 in Yemen, Mukesh Ambani is the elder son of the legendary Dhirubhai Ambani. He grew up with 3 siblings, Anil, Dipti and Nina. The passion of their father was balanced by the softness and love of their mother, Kokilaben and the prudence and practicality of Mukesh Ambani’s wife, Nita. In subsequent years, daughter, Isha, and sons, Anant and Akash, were beloved additions to their home.

EDUCATION
Mukesh Ambani did his schooling from Abaay Morischa School, Mumbai and went on to earn a Bachelor of Chemical Engineering degree from UDCT, Mumbai. His choice of education reflected his father’s philosophy of investing in businesses of the future.

To prove to the world that Mukesh Ambani could do whatever he put his mind to, he applied and got accepted by some of the top universities when he applied for their Master of Business Administration course. Eventually, he chose Stanford University as his alma mater, but his growing entrepreneurial instinct urged him to drop out and help his father with his polyester plant.

Even while pursuing the challenging chemical engineering course, Mukesh Ambani was actively involved in his father’s company. As soon as he joined the company formally in 1981, he became one of the main impetuses for the company’s gargantuan progress.

EMERGENCE OF THE ENTREPRENEUR
Reliance’s backward integration from textiles into polyester fibers and further into petrochemicals was Mukesh Ambani’s brainchild. Reliance’s Jamnagar Refinery in Gujarat, which is now the world’s largest grassroots petroleum refinery, was directed under his watchful gaze. He was the force behind the creation of 51 new, world-class manufacturing facilities encompassing diverse technologies that increased its annual manufacturing capacity from less than a mission tons to over thirteen million tons. Currently, the refinery has a manufacturing capacity of 60,000 barrels per day.

Dhirubhai’s dream project, Reliance Infocomm, which is looked after by brother, Anil Ambani, after the company split in 2005, was also entrusted to Mukesh Ambani in its earlier stages.

Mukesh Ambani’s next strategy is to take a giant leap into the retail with stores across the country.

ACHIEVEMENTS AND ACCOLADES
Mukesh Ambani’s popularity clearly shone forth in 2007, when he was selected as Businessman of the Year by a public poll conducted by NDTC. In the same year, he was presented the United States-India Business Council (USIBC) Leadership Award for Global Vision in Washington D.C., USA as well as the Chitralekha Person of the Year Award by the Chief Minister of Gujarat, Shri Narendra Modi. The same year also saw him recorded as India’s first trillionaire.

Rewinding his life, Mukesh Ambani was chosen as Economic Times Business Leader of the Year in 2006 and ranked 42nd among the World’s Most Respected Business Leaders and 2nd among the four Indian CEOs featured in a survey conducted by Pricewaterhouse Coopers and published in the Financial Times, London in 2004.

He was also conferred with the World Communication Award for the Most Influential Person in Telecommunications by Total Telecom and chosen Telecom Man of the Year by Voice and Data magazine in 2004. He ranked 13 in Fortune Magazine’s Asia’s Power 25 list of the Most Powerful People in Business and topped the Power List published by India Today for the second consecutive year.

LOCAL KING
In spite of managing the country’s biggest private sector company, Reliance Industries Ltd., Mukesh Ambani’s sight is currently on the Indian market alone. His vision is clear – he wants to expand rapidly within the country and change the lives of its people for the better. However, his focus extends beyond merely size increase to value generation and upscaling.

The MODERN INDIAN PHILANTHROPIST
Mukesh Ambani is regarded as the ‘modern day philanthropist’, whose paragon actions have inspired and cultured a socially sound community today. As the saying goes, ‘A man’s true wealth here-after is derived by the good he does in this world’; Mukesh Ambani has persistently held social welfare through corporate social responsibility (CSR) and charitable deeds in high esteem. He believes in industrious innovations that transform society; and that unless a business has a larger purpose that serves the millions readily, sustainable growth is impracticable.
The Reliance Foundation, spearheaded by Mukesh Ambani and his wife Nita Ambani, is one of India’s largest corporate run social organization that addresses social development imperatives of India; namely quality, formal and vocational education, affordable high-quality health care, meaningful rural development and urban renewal, and protection and promotion of India’s priceless heritage of arts and culture.

The VALUE CREATOR

Mukesh Ambani run Reliance Industries Limited has been accorded with the second position in the list of world’s 10 biggest ’sustainable value creators’. By generating the largest shareholder value in terms of market capitalization, Mukesh Ambani and Reliance Industries Limited, both, are held as the finest corporate entities of the world today.

Mukesh Ambani has for long regarded ‘value-addition’ process as primal to any business establishment. He affirms that unless a business admits value; in regards to its products, services, work force, shareholders and end users, a business’s worth is futile. With the influx of this belief into tangible action at RIL, Mukesh Ambani’s conviction has been proven true as Reliance climbs high on prosperity charts, becoming India’s most trusted and value-rich brands today.

THE STORY WITH NO END
Mukesh Ambani dons a cap with many feathers, but he carries them with grace and panache. At 53 years, his sheer energy is enough to take one’s breath away. Having achieved so much, Mukesh Ambani remains hungry for more. So, he continues to create, continues to build and continues to shine brightly on India’s business horizon.

The Reliance Digital store at Moments Mall Kirti Nagar, in the city of Delhi is all set to welcome actor Imraan Khan, Katrina Kaif and Ali Abbas Zafar today(5th September 5, 2011) at 5:00 PM. The actors and their team will visit the store for the promotion of their latest flick Mere Brother ki Dulhan. The cast is expected to interact with the crowd and media at the promotion event.

This Reliance Digital Store is the latest addition to the electronics chain. The store was launched on 3rd September. As a part of special launch festivities, Reliance Digital has put in place exclusive launch offers which range from price-offs and discounts to exchange offers. As a part of the ‘Mismatch Exchange’ scheme, customers can bring in their old refrigerators, washing machines and television sets in exchange for any of the latest electronic product from the store. Reliance Digital is also offering a special purchase scheme where customers can take home any product of their choice at an easy EMI of just Rs. 51. And every purchase will be backed by Reliance Digital’s customer support team at ‘Reliance resQ’, available 365 days a year.

About Reliance Digital:
Reliance Digital is a one stop shop with cutting edge technology for the entire range of household electronics, appliances, computers, gaming and telecom products. Reliance Digital Stores house over 150 international and national brands and over 4000 products. The range at Reliance Digital spans, Audio and Video products (TV’s, DVD players, Car Audio players), Electronic Musical Instruments and Digital Cameras, Gaming Consoles, Computers and Peripherals, Mobile and Fixed line instruments, Durables like, Air Conditioners, Refrigerators, Water Purifiers, Kitchen and Home Appliances.

Reliance Industries Limited (RIL) is set to refresh its entrepreneurial spirit and engage in India’s quickly evolving startup ecosystem. To this end, it will be partnering with technology giant, Microsoft, to incubate startups by offering seed capital, mentorship andtechnology.

RIL, which already has interests in telecom, retail and petroleum, is now keen on focusing on startups in India that exhibit the potential of converting into billion-dollar businesses.

Initial Investments and Nature of Partnership

The company’s partnership with Microsoft will be operated through its 4-year old venture capital firm, Gennext Ventures. So far, this firm has announced two investments – one in Covascis Technologies Pvt. Ltd and the other in Videonetics Technology Pvt. Ltd.

The precise nature of the partnership with Microsoft is yet to be disclosed. A reliable source claims that the startups, once identified, will be funded via RIL and there will no limit on investments at the seed stage. This is taking into consideration that such companies typically require a small investment, ranging between ₹50 lakhs to ₹2 crores.

The RIL-Microsoft start-up model appears to have drawn inspiration from a US-based seed accelerator, Y Combinator. This establishment offers capital, advice and networking opportunities in exchange for 7% equity in the company. Y Combinator is known to invest in the range of $120,000 has funded 500 companies, including Dropbox, belonging to 30 different markets as on December 2013.

What Puts Startups in the Limelight?

According to Rajesh Sawhney, founder of GSF Accelerator, there are 3 main reasons why corporate houses are ready to fund startup businesses. He says, “R&D spends are going down, large companies are struggling to innovate (for instance Facebook, Whatsapp, YouTube, even Google were independent start-ups that scaled globally and were not spun out of large corporations) and finally they are struggling to get startups.” GSF Accelerator funds early-stage startups and is backed by 30 entrepreneurs. He adds, “Globally, only Silicon Valley has been able to solve this problem and companies like Cisco, Facebook, Google are the biggest acquirers of startups.”

Sawhney believes that it will be challenging for corporations to replicate the Y Combinator model, which essentially owes its success to its independence, that is, not being attached to any corporate.

Large Indian companies have been relatively slow in recognizing the potential posed by startups. The RIL-Microsoft partnership opens new doors for mentorship and funding,thus creating a fertile environment for new ventures.

The businesses taken under the wing of this partnership will be provided mentorship through an industry veteran. It is also believed that Microsoft India will offer ready access to its own business units in India and overseas to pilot the products and services developed by the incubating companies.

So far, most incubators in our country lack experience or the requisite skill sets to mentor budding entrepreneurs. Furthermore, the credible ones operate only out of one of the 6 top cities in India or are associated with specific universities or colleges. The RIL-Microsoft venture seeks to bridge this gap and encourage entrepreneurship in India.

Reliance Jio Infocomm (RJIL) recently signed a deal with state-owned telecom major BSNL to lease about 4,000 mobile towers. According to this deal, rentals are being fixed at a base rate of ₹38,000 per month for ground-based towers (GBT) and ₹ 24,900 per month for rooftop-based towers (RBT).

Should RJIL lease a minimum of 1,500 towers in the first year, these will be provided by BSNL at a rate of ₹ 35,000 per month for GBTs and ₹ 21,000 per month for RBTs. Besides, an added 5% discount will be applicable should RJIL commit to leasing a minimum of 1,000 towers within three months. RJIL is yet to announce its final decision regarding the number and timeline of the lease.

Strengthening its Digital Infrastructure

RJIL is the first telecom operatorto receive a unified licence for all 22 service areas in India. Secured in October 2013, this license will allow RJIL to provide the entire range of telecom services, including voice telephony.

Working towards strengthening its digital infrastructural backbone, RJIL is negotiating a series of agreements relating to procurement of collaborative equipment and costing for servicesand infrastructure. All of these collaborations are aimed at facilitating economies of scale and reducing the end price of the service providedto the customer.

Bridging the Gap in Broadband Penetration

Today, RJIL holds a pan-India broadband wireless access spectrum that may be used for 4G services. It also has radiowaves in the 1800 Mhz band or the 2G spectrum, which are used for 4G services worldwide.

RJIL has also struck infrastructure-sharing deals with Reliance Communications, American Tower Corporation, Tower Vision India, Ascend Telecom, Viom Networks and Bharti Infratel. The objective of such collaborations is to improve digital experiences pan-India.

RJIL signed tower-sharing deals with Tower Vision for 8,400 towers in May; with Ascend Telecom Infrastructure for 4,500 towers in June; and with Videocom Telecom, which operates in UP, Bihar and Jharkhand, for 500 towers in July. Also in July, RJIL signed a collaborative partnership with Bharti Airtel that allows both companies to share the capacity of a submarine cable.

RJIL has now become the 7th core member of India’s largest telecom operators’ association, COAI. As a result, it is now licensed by the Government of India (GoI) to provide unified communication services.

Considering its proactive measures, RJIL is expected to have well-developed infrastructure to ensure seamless connectivity and high-speed access when it launches its 4G services in 2015.

Reliance Industries Limited (RIL) is expected to source 1.5 million tons of ethane annually from the United States to provide feedstock to its petroleum cracking units in India. It will be the first Asian petrochemical company to import US ethane. This move is expected to save RIL close to Rs 2,000 crores each year. Storage and capacity agreements for both the liquefaction and the export of ethane have been closed and operations from a Northern American terminal will commence in the second half of 2016.

RIL has an established shale-gas and cracker portfolio in India right now. It also has substantial investments in shale-gas assets in the USA. Leveraging these assets, RIL will bring in this supply of ethane, which is currently a dominant feedstock in the States. This move is part of the larger picture for RIL, which is working on doubling its petrochemical capacity by financial year (FY) 2016. The company has a 5-year plan of investing $30 billion towards this core business.

Ethane to Overtake Butane and Propane

Feedstock is the largest expense incurred by a petrochemical company. Naptha, though expensive to extract and process, is readily available in India. It is the basis of 3 naptha-based cracker complexes in the country. India also has 3 gas-based and 1 mixed-feed cracker. Propane and butane are not viable options considering their high price and lack of domestic availability.

Though RIL is predominantly a naptha-based petroleum company, it is now walking in the footsteps of international players. In the US and West Asia, ethane and propane feedstock crackers usually earn gross margins of over 50% and project payback periods are as short as 2 to 3 years. Input for this feedstock stands at $3-$5 per million metric British thermal unit (mmBtu), whereas current Indian consumption of naptha or propane is around $19-$23 per mmBtu.

The domestic cost of ethane in the USA is now $4 per mmBtu. Add to that landed import cost to India and the figure touches $12 per mmBtu, which works out to savings of $5 per mmBTU.

The USA’s massive shale reserves indicate that its oil and gas production may exceed – perhaps even be double – that of Saudi Arabia. The inability of the US ethane export infrastructure to keep up with local gas production will ensure low prices within the US. Therefore, the vast difference between US domestic and international prices will continue to prevail for a long period.

RIL’s Plan of Action to Import Ethane

RIL already has in place storage and capacity agreements for the liquefaction and export of ethane. When operations commence in 2016, liquefied ethane will be transported to India in 6 technologically advanced ethane carriers, which will have the distinction of being the largest vessels ever built. These carriers are being built through Samsung Heavy Industries, South Korea.

In India, RIL will have a receiving and storage facility in place for the liquefied ethane and a dedicated pipeline to deliver ethane to its crackers. All of RIL’s crackers will soon upgrade to facilitating cracking with ethane.

This project has a long-term goal of improving competitiveness in RIL’s cracker portfolio with dedicated feedstock. This, in turn, will enhance margins, increase capacity and facilitate end-to-end integration in the petrochemical industry.

Reliance Industries Ltd (RIL) is in talks with Hindustan Petroleum Corporation Ltd (HPCL) to work out a possible tie-up. This tie-up is to help the state-owned petroleum company expand its oil retailing business. Prices in the oil sector are looking up now that retail diesel is approaching market rates and petrol prices are de-regulated. This is encouraging many oil retailers to re-examine their business strategies going forward.

These talks with HPCL are part of RIL’s long-term plan to focus its attention on petro-chemicals, refining, retail and telecom. In fact, RIL is looking at pumping in 75% of all the investments (Rs 2,40,000 crore) it has made over the past 37 years of itspresence in these sectors.It is confident that it will also achieve a debt-free status by 2017-18.

Brighter Future for the Petro-Chemical Industry

Should the talks between RIL and HPCL work out;the former will be able to strengthen its leadership position in the oil retail sector. RIL’s oil presence in Gujarat alone is around 200-215 retail outlets. Combined with its pan-India presence of 1,400 oil outlets, it puts RIL above Essar Oil’s presence of 1,400 outlets and Shell’s 79 outlets. With RIL’s infrastructure combined with HPCL’s might as the second-largest oil retailer in the country, the mutual benefit would be unmatched.

Also, with the pricing between petrol and diesel narrowing down, vehicle owners now have a range of fuelling options. An agreement between RIL and HPCL ensures that any increase in demand for petrol cars will be efficiently met.

Well Planned Basis for Talks

The talks with HPCL are in the preliminary stages and RIL is working on a strategy that will completely reduce its risks. As a private player in the petroleum industry, RIL is beginning these talks with HPCL to help the company begin operations with the Rs 5000 crore infrastructure that RIL has in place already.

With the Government’s move to stagger the diesel price increase by 50 paise a liter each month, the current under-recovery stands at Rs 1.78 per litre. This move has had a positive impact on retail and commercial consumption. The diesel demand up until July of this year stands at a 6.25% increase year-on-year.

Part of a Larger Investment Plan

The talks with HPCL are part of the efforts that RIL is undertaking to reinvent itself by the time it completes 40 years of its first public offering. RIL is currently in the midst of its largest investment programme since its inception. Confident about the long-term prospect of the Indian economy, RIL believes that now is the right time for rapid expansion.

In successive 3-year investment cycles, the company will investRs 1,80,000 crore each time. This takes the company’s 3-year investment target up by 20% from the Rs 1.5 trillion that was first envisaged in its 2013 AGM. Each of these large investments is being done with the view of taking RIL to the level of a Fortune 50 company.

RIL’s core petro-chemicals business will receive the highest allocation of capital. Any of the new projects in the pipelines are slated to be completed within 24 months. The company is working closely with the Indian government to resolve any regulatory issues and market-based gas price fluctuation to ensure success in the petro-chemical business.

The Indian Super League successfully completed its first International Player Draft on 21st August, 2014. A total of 49 players were drafted in 8 franchise leagues during this session. The league is scheduled to run between October and December this year.

The league is primarily funded by Reliance Industries Limited (RIL), Star India and International Management Group. Designed much like the cash-rich Indian Premier League for cricket, this event is supported by the All India Football Federation (AIFF).

Indian Super League Game Play

The top 4 teams in the league will qualify for the semifinals that will be played in two legs, after which the winners will advance into the one-off finals. The player rosters need to adhere to strict rules; each team must have 1 marquee player, 7 international footballers and 14 Indian players. Out of these, 4 domestic footballers must be from the city that their franchise represents.

Kerala Blasters Recruits its Striker

Former Newcastle United striker, Michael Chopra, was among the first to be picked up by the Kerala Blasters, a team that is co-owned by Sachin Tendulkar.

Former England goalkeeper David James, marquee player and manager of the Kerala team, told the press, “When the drafts came up, the first name that caught our attention was that of Chopra.”

The striker has also played for a number of other Premier league clubs such as Sunderland and Cardiff City. In addition, he has also played for Nottingham Forest, Blackpool, Barnsley, and Ipswich. Chopra, whose father is an Indian, is the only English player in the draft.

Other Leading Recruits

Other leading names in the first season of this Indian football league include Manchester United midfielder, Bojan Djordjic; former Juventus striker, David Trezeguet, and former Arsenal winger, Freddie Ljungberg. Each of these footballers will act as the marquee player for his respective team.

32-year old Djordjic is best known as the winner of the Player of the Year award at Manchester United in 2000. However, he made only two appearances during his tenure with the club. He went on to earn a successful football career and won league titles for Red Star Belgrade in Serbia, AIK in Sweden and Videoton in Hungary.

La Liga veteran,JofreMateu, has been recruited by the Kolkata franchise that is co-owned by Sourav Ganguly and Spanish giant, Atletico Madrid. Other leading co-owners of various franchises include Bollywood stars such as Ranir Kapoor, John Abraham and Salman Khan.

Highest Paid Footballer

Chennai-based Sun Group had formerly bagged the team representing Bangalore only to opt out at the eleventh hour. This team will be replaced by a Chennai team, believed to be run by Play on Skills, an establishment that has technical collaborations with Inter Milan in India. This franchise has recruited Djordjic and former Hull City and Paris Saint Germain defender, Bernard Mendy. At $80,000, Mendy is believed to be one of the highest paid international footballers in the draft.

Reliance Industries Limited(RIL) recently announced plans of investing $2 billion in its shale-gas assets in the United States of America. Furthermore, on 20th August, representatives from the company announced that it will also be sourcing ethane for its petrochemicals complex at Jamnagar from the next fiscal year.

Enhancing Long-term Competitiveness

The official press note went on to say that RIL is implementing a project to source 1.5 million tons per annum of ethane to feed their crackers in India. Ithas signed storage and capacity agreements for liquefaction and export of ethane with a North American terminal. These operations are expected to commence in the second half of 2016. In addition, RIL has ordered 6 state-of-the-art Very large Ethane Carriers (VLECs) that are believed to be the largest vessels to have ever been built in the world. These, too, are expected to be delivered in the last quarter of 2016, syncing with the readiness of the terminal. Further, the note affirmed, “The project will significantly improve the long-term competitiveness of our cracker portfolio through dedicated feedstock, enhanced margins, higher capacity and end-to-end integration.”

Ongoing Expansions at RIL’s Jamnagar Refinery Complex

The existing refinery complex at Jamnagar consists of over 50 processing units. These are designed to process basic feedstock and crude oil. They are used to obtain a variety of finished products deploying major refining processes such as atmospheric and vacuum distillation of crude oil, catalytic cracking and reforming as well as delayed coking.

The project, known as J3, has been designed to increase production capacity for ethylene and other petroleum products. Currently in its third phase of expansion, RIL’s announcement of importing ethane comes closely at the heels of their $37.3 million contract with Siemens for designing, manufacturing and commissioning of 4 steam turbines

Gaining Global Leadership through Capacity Expansion

RIL is now working on expanding the collective capacity of its portfolio of about 20 petrochemical products by 66%. These expansions will be driven primarily by products such as polyethylene/polythene (PE), ethylene, purified terephthalic acid (PTA) and paraxylene(PX). These products are foundation materials for a number of industrial products such as coatings, adhesives, textiles, inks, paints and plastics. Ethane is the second-largest component of natural gas after methane and has replaced liquids as the dominant feedstock for crackers over the last 5 years.

An investment of $8 billion has been made towards this plan. This move will contribute to the company’s aim to increase ethylene capacities to 3.248 million tons per year. This phase-wise expansiontill fiscal year 2017 will boost RIL’s position to the top 5 in the world for most of these products.

The import of ethane from the United States will help ensure a steady flow of raw materials at a rate decided beforehand. This will help bring down costs further and make RIL’s cracker portfolio a highly competitive one.

Diesel prices are expected to get deregulated by Diwali this year. Considering this, Mukesh Ambani-led Reliance Industries Limited (RIL) along with Ruia’s Essar Oil is set to resume their petro-retail operations.

RIL had over 14% of the market share in diesel sales within the first few years of starting its petro-retailing operations.However, it was forced to shut down its pumps in 2008due to the differential between diesel prices offered by private retailers and State-owned Oil Marketing Companies (OMCs). Recently, a source revealed that RIL will be re-opening about 1,100 pumps and then setting up new ones after the diesel prices are completely de-regulated.

Reduced Price Differentials

Since the start of August 2014, the differential between the market and sale price of diesel has reduced to Rs. 1.33 per liter. This is due to the falling crude oil prices, the appreciating Indian rupee as well as the monthly hike of 50 paisa in diesel prices over the past 18 months. Since January 2013, the rates have cumulatively gone up by Rs. 11.24 per liter through 18 installments since the former UPA government took the decision of imposing smaller monthly hikes. The idea was to continue raising diesel prices in small amounts till the losses made due to government subsidies were entirely eliminated. This strategy resulted in trimming the losses to less than Rs. 3 per liter in May 2013, until the significant fall in the rupee value.

Importance of Market Pricing for Diesel

Market pricing of diesel is critical for the viability of the petro-retail business since it accounts for as much as 44% of the total consumption of all petroleum products in India. It is estimated that diesel contributes to about 80% to 90% of sales in fuel pumps at highways across India. Also, the sale of diesel accounts for nearly 50% of the sales at fuel stations nation-wide. Within a span of ten years, diesel consumption has gone up by 32.52 million tons.

How Essar Oil Plans to Capitalize on the De-regulation

Essar Oil plans to increase the number of its retail outlets from the existing 1,400 to 3,000 over the next 3 years. Essar is already working on over 300 new pumps that are in various stages of commissioning. They are already working towards restarting their diesel sales phase-wise. This move is with an aim to capitalize on the de-regulation of diesel sales.

Overall Industry Reaction

Shell India is taking a more conservative approach by keeping a close watch on the entire de-regulation process. 33% of the 45,000 petrol pumps in India are owned by the Indian Oil Corporation. Fearing strong competition by private players after the de-regulation, OMCs such as this are working towards designing an aggressive plan to roll out 16,000 new retail outlets over the coming years.

Chairperson of Reliance Industries Limited (RIL), Mukesh Ambani, recently announced his plans to develop a world-class education hub in Navi Mumbai. With academic collaborations with some of the world’s leading universities, this hub intends to encourage innovation in learning by providing students with infrastructure to conduct research. The collaboration includes top names such as Oxford, Harvard and Cambridge.

Location

The hub will be developed in Ulwe, on a 400-acre plot owned by Anand Jain and Mukesh Ambani. Originally acquired to develop a Special Economic Zone (SEZ), revisions in the state’s industrial policies enabled the land to be unlocked for other purposes. The land remained undeveloped because it was under the flying zone of the proposed Navi Mumbai International Airport; disallowing building of skyscrapers as per aviation norms. So, RIL decided to build an international education hub here instead.

While the exact location of the education facility has been announced only recently, RIL’s intentions to set up a world-class, multi-disciplinary university in Maharashtra were declared at the company’s Annual General Meeting in 2011.

State-of-the-Art Education

Intelligently nicknamed “Special, Education Zone”, this campus plans to involve state-of-the-art infrastructure that facilitates well-rounded education from kindergarten to doctorate programs. Stemming from the belief that existing universities are not able to meet the industry demand for well-trained engineering personnel, this education hub intends to fill the prevalent talent gap. It will also offer courses in science, arts and a variety of professional vocations. As per the initial plans, this education hub will act as an autonomous university. It intends to blend western and eastern education systems and cultureto nurture talent holistically.

However, it has been made clear by a senior spokesperson at RIL that the plans for this hub are still at a rather nascent stage. To start with, the nitty-gritty of the revised government policies are yet to be understood and the modalities of the project still need some fine-tuning.

Other Academic Initiatives

Nita Ambani, wife of Mukesh Ambani, will also be actively monitoring the progress of this project. Known for her philanthropic inclinations in the fields of education, human resources and disaster relief; her involvement in the project comes with her drive to place this hub on the global map.

This will be Mukesh Ambani’s second academic project since 2011, when he signed a pact with the Gujarat Government to transform the Gandhinagar-based PanditDeendayal Petroleum University into a leading world-class academic institution.

RIL has been involved in a number of educational projects as part of its social responsibility and community development initiatives,. It has developed 9 schools that jointly cater to 13251 students across the country. RIL is also known to play a crucial role in supporting the Government’s initiative in educating the girl child. A number of primary and secondary schools in rural India have been transformed into platforms that encourage computer literacy. Other academic initiatives have been continuously executed by providing financial support to NGOs and charitable trusts.

Reliance Industries Limited (RIL) will invest $2 billion in its 3 shale assets in the United States of America. This decision is taken due to the business potential inthe extraction of natural gas and oil from sedimentary rock formations.

RIL, India’s biggest private sector company,has already invested $7.3 billion over the last 4 years towards the development of the oil-and-gassector in the booming American market. It now plans on making new investments in 3 existing joint ventures with companies in the US.

RIL versus the Government of India

RIL’s move to invest in shale gas comes around the same time when the company is in a row with the Government of India on the issue of increasing the price of natural gas. The natural gasis produced at RIL’s D6 block in the Krishna-Godavari basin. The recently elected National Democratic Alliance (NDA) government postponed its pricing-related decision to September 30, 2014. The deferred decision involves a proposed price hike pending modification on the basis of a formula suggested by the C. Rangarajan committee. This modification has the potential to nearly double the price of gas in India.

What This Means for RIL

On June 30, Canadian company, Niko Resources Limited, a 10% partner in the D6 block, announced that their investment plans for the Krishna-Godavari basin will be deferred if the gas pricing issue is not resolved. This has proven to be a challenge for RIL to pursue domestic investments in exploration and production.However, its investmentin the US-based shale oil and gas ventures is one of the many steps taken to steadily increase its interests in the international marketplace.

Shale gas operations have known to become a significant revenue generator for the company within a span of 3 years. The company’s June quarter results announced a 26% increase in revenue and 22% increase in operating profit fromthis sector. Furthermore, RIL’s share of production from this business stood at 15 million metric standard cubic meters per day of gas;a little short of twice its production from the D1 and D3 fields in Block 6 of the Krishna-Godavari Basin.

RIL’s Plans for its Overseas Shale Gas Business

Sources suggest that $2 billion worth of additional capital expenditure that is planned for this business will be primarily invested in the Marcellus region located in the eastern part of the United States. For this, RIL has agreements with Chevron as well as Carrizo Oil and Gas Inc. Both companies have significant presence in this region. A spokesperson said that the investment will most likely flow into the Chevron shale acreage.

Furthermore, RIL enjoyed a head start by entering into the business through joint-venture agreements as early as 2010. In the then-nascent sector, the company invested a total of $2.046 billion in companies with presence in the Marcellus and Texas regions of the US. Gaining access to 12 trillion cubic feet of reserves, these agreements have already turned extremely profitable for RIL.

It is official: the former Manchester United Player, Bojan Djordjic, will be playing in the inaugural season of Hero Indian Super League. This professional Indian football league is the result of a 700-crore deal between Reliance Industries and US-based International Management Group (IMG). The season will run between October and December this year and will consist of a final series that will determine the champion.

Introducing some Swedish Flavor

32-year-old Djordjic joined Manchester United at the age of 17 in the year 1999. Within a year, Djordjic was named Manchester United’s Young Player of the Year. The left-footed Swede joined Manchester United from Brommapojkarna, a second division club near his home in Stockholm. After being spotted in an Under-17 European Championships match between England and Sweden, there has been no looking back. By 2001, he was regularlyincluded amongst the first team squad for Manchester United.

Over his 15-year old football career, Djordjic has acquired significant international experience by playing competitive football in Serbia, Scotland, Denmark, Sweden, Hungary and England. He is known for his creativity as a midfielder and as a set-piece specialist. Another feather in his hat is his role in winning titles in four countries for his respective teams. He has also played a significant role in making the Plymouth Argyle FC a strong championship side during his stint in England.

The winger-cum-attacking midfielder will be among the 49 other players in the central international player draft that is scheduled on 21st August, 2014 in Mumbai. “Playing in the Indian Super League will be a great adventure, a chance to meet new people and help them to become stronger in a sport that has been my passion for my whole life,” says Djordjic.

The Other Players

Among other leading players named for the inaugural season are Colombian defenders, Jairo Suarez and Andres Gonzales. Sources suggest that IMG-Reliance is very close to completing its quota of foreign players that come from leading football countries and the best leagues around the world. In addition to the 14 domestic players, every franchise within the Hero Indian Super League must also sign 7 international players minimum and a single-marquee foreign player for its squad.

Speculators believe that the next few names on the list may consist of young Brazilian players. The organizers have also released a list of 13 international players among which the most impressive names come from France. Football giants, Olympique Lyon and Cedric Hengbart, along with French defender, Sylvain Mosoreau, are on the list. Each one of these players comes with significant experience either with the French club, Auxerre, or the UEFA Champions League.

The first list of players also includes Omar Rodriguez (Columbia), Erwin Spitzner (Brazil), Gustavo Marmentini (Brazil), Guilherme Felipe de Castro (Brazil), Bruno Augusto Pelissari de Lima (Brazil), Pedro Gusmao (Brazil), Luis Yanes (Colombia) and Youness Bengelloun (France).

The 8 franchisees will battle for the 49 international players in the pool on August 21st.