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 decade

Source:http://news-views.in/mukesh-ambani-announces-reliance-industries%E2%80%99-diversification-plans-at-36th-annual-general-meet/

A graceful persona with an industrial mind, Nita Ambani has time and again surprised the world and earned admiration from people she knows and those she doesn’t for her generous deeds. Nita Ambani has been tirelessly working as a part of Dhirubhai Ambani Foundation and her efforts have all paid off in the form of many institutions and groups that she has stood for. Be it earning a place for the physically challenged in call centers, running schools for the needy and deprived classes or upgrading overall education standards for children, Nita Ambani is one woman who believes in doing the right thing and never shies away from taking a stand wherever and whenever necessary.

Nita Ambani plays the role of the Chairperson to Dhirubhai Ambani International School (DAIS). DAIS which was built in 2003 by Reliance Industries Limited is located in Mumbai. The school has been crowned as the best in whole of Mumbai by both critics and general public alike. DAIS owes the credit of being regarded so, to its dynamic Chairperson Nita Ambani, who went the extra step to recruit world-class teachers from around the globe. DAIS also holds the credit of being one of the 37 schools in India which offer the prestigious International Baccalaureate Program to its students which renders them an opportunity to get placed in top class universities including Oxford, Cambridge and Princeton. Recently Nita Ambani opened the gates of DAIS for slum kids to use the school facilities. The program is called Akanksha-DAIS. The force that drives Nita Ambani to devote her efforts to the cause of upgrading educational standards in the country is the quest to bring out the best and imbibe a sense of responsibility towards society and environment in students. In addition, students of DAIS are also encouraged to work with several NGOs including Aditya, Akanksha, Goonj and Ishara.

Nita Ambani has an acute business sense and with a heart of gold that beats for making others lives productive, she restlessly works to give a better meaning to people’s lives and to make it worth living. Nita Ambani spearheads the development of villages around Reliance projects and takes keen interest in the upliftment of the lives of the people residing there.
Another major development that is in the pipeline and part of Reliance’s responsible engagement with society is the Reliance University. Reliance Foundation is planning to come up with a world-class university. As told by Nita Ambani herself, Reliance University which she is all geared up to head will be built in either Delhi or Mumbai. Reliance is on the lookout for a suitable land for the proposed university.

The University will apparently promote education and research in the disciplines ranging from liberal arts to technology at undergraduate level and will gradually incorporate Post graduate and Doctoral courses. Reliance University will follow on the lines of American Universities and will tie-up with other foreign universities. It will be international in approach with the best practices but will possess an Indian soul.
Nita Ambani is all set to up to take up the new venture and turn it into another big success.

Source:http://reliance-news.blogspot.com/2010/02/nita-ambani-triggering-standard-of.html