Ambani Assures More Investment In Kerala

[Arun 795]

KOCHI - 9-September-2004 :

Reliance Industries Limited (RIL) will enhance investment in the state in the coming months.

‘‘By the end of the financial year, we will cross the investment limit in the state announced earlier,’’ said Mukesh Ambani, chairman and managing director of the RIL, while talking to mediapersons at Nedumbassery International Airport.

A major chunk of the investment is likely to be in the petroleum and telecom sectors.

The RIL had announced an investment to the tune of Rs 1,000 crore in the state at the Global Investors’ Meet (GIM) held in January 2003.

‘‘We have already given employment for 700 more people in the state during the last few months,’’ he said and added that the Reliance Infocomm had kicked off the second phase of network enhancing works in Kerala.

‘‘Petroleum and telecom sectors are really booming in the country,’’ said Ambani, who was in the city to attend a review meeting of the Reliance Infocomm.

The RIL is planning a number of petroleum product outlets in Kerala and the first in the series will commence by the end of this month either in Thuravoor in Alappuzha district or Tirur in Malappuram district.

They are establishing more than 6,000 such outlets throughout the country and above 100 outlets have already started functioning.

Higher officials from RIL, including V.G. Somasekhar, CEO of Reliance Infocomm, Kerala and Tamil Nadu region, Mahesh Thampi, business head of Kerala region and N. Hyder Ali, advisor and state co-ordinator of the RIL, were present to receive their chief at the airport.