Reliance Industries Limited (RIL) will be increasing its polyester production capacity from the current 2.5 million tons per year (tpy) to 4 million tpy.
Addressing RIL’s 39th Annual General Meeting of its shareholders, chairman Mukesh Ambani said the company would invest Rs. 1500 billion over the next three years spread across all its five business segments--exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G.
Outlining the company’s petrochemical expansion plans, Mr. Ambani said RIL has undertaken the world’s largest petrochemical expansion, focused on domestic markets.
In polyester segment, Mr. Ambani said the company is expanding its production capacity by 1.5 million tons to reach 4 million tpy.
He announced that a polyester filament yarn plant will be commissioned at Silvassa by September this year. The plant would be the first globally to be zero-waste from day one, he added.
A polyester resin plant would be set up by the company at Dahej in the second half of the current financial year, which will make RIL the seventh-largest manufacturer of polyester resin in the world, he said.
Subsequently, in the first half of the 2014-15, RIL would commission a 1 million ton purified terephthalic acid (PTA) plant, followed by another 1 million ton plant within the next six months. This would take RIL’s total PTA capacity to 4.3 million tpy, making the company the third-largest PTA producer in the world, Mr. Ambani said.
Further, RIL will also double its paraxylene (PX) capacity at its Jamnagar plant over the next 30 months, making it the second-largest PX producer in the world. PX is used as a feedstock for PTA and polyester.
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