2022-08-29 19:24:24
*Key takeaways from RIL AGM*
RiL is looking to *double in value by 2027* (50th AGM) and has announced roadmap/investments across its business.
*R-Jio : pan-India 5G rollout by Dec'23*
- Will invest *INR2tn* to deploy pan-India Standalone 5G, starting with Metros in Oct-22 and aim to deploy pan-India 5G by *Dec-23*.
- Working with Google for affordable 5G smartphone and other leading OEMs to support Jio's Standalone 5G ecosystem.
- Jio will launch *JioAirFiber* to provide fixed wireless access (FWA) and take India to top 10 nations in Fixed Broadband adoption.
- To launch affordabable cloud based PC, JioCloud PC on pay as per use basis.
- Expect connected devices to double from 800mn currently to 1.5bn in next 1 year.
*Reliance Retail: To launch FMCG biz this year*
- Reliance Retail has increased store footprint to 15,000 stores across categories like grocery (2,500 stores), consumer electronics (8,700 stores) and fashion/lifestyle (4,000 stores).
- JioMart now delivers across 260 cities in India.
- RIL has on boarded 2mn merchant partners and is on course to reach 10mn merchants.
- RIL will launch FMCG business this year.
*Energy: To invest INR750bn over next 5 years to expand capacity*
- Will invest INR750bn over next 5 years to expand capacities in O2C.
- Will set-up world's largest single train *3mtpa PTA plant* at Dahej by 2026.
- *1 mmt PET and 1mmt PE* plant at Dahej by 2026.
- Will enhance *PVC capacity by 1.5mtpa* by 2026, alongwith investments in EDC and PVC at Ta-Aziz complex in UAE.
- To set up world's largest *20,000mtpa carbon fibre* plant
- RIL replaced *5%* energy consumption at its Dahej/Hazira sites with green energy.
- Commissioning of MJ fields, to increase RIL's share of domestic gas production to *30%* (vs 20% currently).
*New Energy: Next growth engine for RIL*
- With strategic partnerships and its USD10bn investment, RIL has provided additional details on its energy foray. Apart from four Giga factories announced last year, RIL will also set-up 5th Giga factory for Power Electronics (no details on capex yet).
*Solar PW*
- Expanding capacity at REC solar from 1.2GW to 1.8GW.
- RIL's Giga factory to start manufacturing solar PW and modules from 2024 (10GW capacity initially) and will scale up to 20GW by 2026.
*Battery*
- Strategic partnerships with Lithium weeks, Faradion and Ambri.
- Will. Commence production of battery packs by 2023, scale up to 5GWh by 2024 and 50GWh capacity by 2027.
*Green Hydrogen*
- Will commence transition from grey to green hydrogen by 2025.
- Will install 20GW solar energy generation capacity by 2025 for captive energy needs / green hydrogen.
*Succession planning*
Akash Ambani to lead R-Jio, Isha Ambani to lead Retail and Anant Ambani to lead New Energy biz.
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