Highlights of Reliance Industries head Ambani comments at co's AGM

[K.Karthik Raja]

Highlights of Reliance Industries head Ambani comments at co's AGM
Thursday, Jun 12

MUMBAI - Highlights of Chairman and Managing Director Mukesh
Ambani's
comments to shareholders at Reliance Industries Ltd's annual general
meeting
today:

* Two very large energy projects to be commissioned Oct-Mar.
* Refinery, gas production to start in Oct-Mar.
* Continue to focus on speciality polyester.
* Pursuing greenfield investment, acquisition in polyester business.
* Petrochemicals business to be driven by new capacities.
* Exports have grown 49%, compounded over last five years.
* Committed to petroleum retailing in long-term.
* Gas exploration success ratio 63%.
* To accelerate exploration in KG basin.
* Six additional deep-water rigs contracted.
* Have gross contingent reserves of 5 bln barrels of oil equivalent.
* Gross reserves accretive target 10 bln barrels of oil equivalent.
* Organised retailing is a major growth platform.
* Completion of east-west gas pipeline from KG-D6 year-end.
* Got regulatory nod for Gurgaon, Jhajjar, Jamnagar SEZs.
* Allotted two blocks in Yemen, three blocks in Peru.
* To sell gas at price equal to $25.2/bbl of crude oil.
* To add 900,000 tn a year polypropylene capacity in Jamnagar FY09.
* Reliance Retail to generate 500,000 jobs in next five years. End