As per prior commitments, Reliance Industries chairman Mukesh Ambani has announced plans to build India’s first and one of the world’s largest Carbon Fibre plants at Hazira, Gujarat in the 45th AGM on Monday, 29th August. In this, the plants will have a capacity of 20,000 MTPA based on Acrylonitrile feedstock. Overall, in the Oil to Chemical segment (O2C), Ambani announced a huge investment of Rs. 75,000 crore over the next five years to expand capacities in existing as well as new value chains. The first phase of the plant will be completed in 2025.
In the Chairman's interviews, he informed that Reliance will also invest and work on a 1 MMTPA PET plant at Dahej. Both PTA and PET are targeted for completion by 2026. Polyester expansion with a capacity of over 1 MMTPA will be done in phases by 2026.
"The company will further integrate its composites business with Carbon Fibre to produce Carbon Fibre composites. Apart from other applications, Carbon Fibre composites are also used to meet the increasingly growing lightweight requirements of Mobility and Renewable Energy. Thus, Carbon Fibre promises to be a multi-decade growth engine for O2C”, Ambani highlighted.
Biggest News-
The much-awaited, much-hyped and much talked about- Reliance Annual General Meeting 2022 has concluded with Mukesh Ambani attempting to woo investors with a magnified platter. However, a drop of 0.69 per cent in the share price of Reliance Industries Ltd (RIL) gives an impression that investors did not get carried away much, and some may even have got disappointed with the business tycoon’s current and past announcements.
Some more information-
Being developed as a part of the new materials division, the plant is expected to complete its first phase of production by 2025. To further enhance the business opportunities in this sector, RIL also plans to merge its composite business with Carbon Fibre to produce Carbon Fibre composites.The Carbon Fibre and Carbon Fibre Composites produced at its plant will be used to meet the rapid increasingly growing lightweight and daily requirements of the Mobility and Renewable Energy sector.
Some titbits about the Company-
In September 2017, Reliance Industries acquired the assets of Kemrock Industries (Vadodara, India) to enter the composites business and is currently focusing on thermoset composites such as glass and carbon fibre reinforced polymers (FRPs).
In addition to aerospace and defence, the company has stated its some specific areas of interest including windmill blades, parts for railways and metros, and infrastructure projects etc.
Did you know:
Reliance has commenced its journey to becoming net carbon zero by 2035 with a set of concrete actions in future.
BY:
Sakshi, Guneet Kaur Bindra
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