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India’s corporate giant, and raw material to retail company, Reliance Industries Ltd.is all set to invest Rs. 75,000 crore in the next five years to expand petrochemical capacity.

The investments, notably, will be utilised to set up a PTA plant, and expand polyester capacity.

Speaking at the company’s annual general meeting (AGM), Mukesh Ambani, Chairman, RIL, also informed about tripling the capacity of vinyl chain and a chemical unit in UAE.

He said that “in the polyester value chain, we will build one of the world’s largest single-train PTA plant of 3 MMTPA capacity at Dahej. We will also invest in a 1 MMTPA PET plant at Dahej.”

Both PTA and PET will be targeted for completion by 2026.

“We will also reinvest in Polyester Filament Yarn (PFY) and Polyester Staple Fibre (PSF). Polyester expansion with capacity of over 1 MMTPA will be completed in phases by 2026,” he said.

He also highlighted the sustainability focus of the RIL and said that Reliance has championed the cause of sustainability through circular economy and is India’s leader in recycling of polyesters and plastics, adding “We will strengthen our leadership position in PET recycling by more than doubling our bottle recycling capacity to 5 billion bottles a year.”

Isha Ambani, Leader of Reliance Retail business, informed that the company’s fashion and lifestyle business has the widest physical reach with nearly 4,000 stores in over 1,000 towns.

“Last year, we sold over 43 crore garments, which is enough to clothe the entire population of the US and Canada. We further strengthened our product portfolio by entering categories such as lingerie, saree and home furnishing, and have quickly scaled to establish significant positions in each of them. Our strong design and sourcing ecosystem has enabled us to grow our own brands across apparel and footwear. Our own brands contribute to over 65 per cent of overall revenues,” she said.

AJIO, integrated omni channel platform of the company, is one of the most loved fashion destinations, with 80 per cent of purchases from repeat customers. AJIO Business, Reliance’s new commerce initiative, works with merchant partners across 3,500 towns, giving them access to a collection of over 8,000 regional and national brands and a wide portfolio of our own brands.

“Reliance Brands continues to bring more luxury and premium global brands to Indian customers. We have acquired and partnered with some of India’s top names in couture and fashion through a curation-led approach, to better serve luxury customers in India and abroad,” she said.

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