Reliance’s O2C business eyes long-term growth with new capacities: Mukesh Ambani

Reliance Industries, Chairman and Managing Director Mukesh Ambani on Thursday outlined the strategic priorities for the company’s Oil-to-Chemicals (O2C) business, stressing on its continued role as a key driver of growth at the 47th Annual General Meeting of the company. Addressing shareholders, Ambani highlighted the significant investments being made to enhance the O2C segment’s capacity and sustainability, ensuring its long-term financial performance.

Ambani highlighted the significant investments being made to enhance the O2C segment’s capacity and sustainability, ensuring its long-term financial performance.

“Our Oil to Chemicals business continues to be a robust growth engine, steadily enhancing its financial performance for a long time to come. We are actively investing in new capacities and capabilities to meet the demand growth in India,” Ambani said.

He detailed several major projects currently underway to expand the company’s production capabilities. Among these are the new integrated facilities in the Vinyl value chain, which will add 1.5 million tonnes per annum (MMTPA) of PVC and CPVC at Dahej and Nagothane by 2026-27. Additionally, Reliance is adding a million tonnes of specialty polyester capacity by 2026-27, which will be further integrated with a 3 million tonne PTA capacity by 2027.

Ambani also revealed that Reliance is constructing India’s first world-class integrated Carbon Fiber plant at Hazira, which will rank among the top three globally. To support the company’s global feedstock sourcing, Reliance is expanding its fleet of Very Large Ethane Carriers (VLECs), adding three more to its existing fleet of six carriers used for sourcing ethane from North America.

Beyond capacity expansion, Ambani highlighted the company’s commitment to sustainability, noting that Reliance is on track to become one of India’s largest users of renewable energy. “Sustainability continues to be a key element in our O2C business. We are accelerating the use of renewable energy and are well on our way to becoming one of the largest users of renewable energy in India,” he said.

He also highlighted the progress Reliance is making in various sustainability initiatives. These include PET recycling, chemical recycling of plastics to produce pyrolysis oil, polyolefin recycling, and converting hazardous waste into alternative fuels and raw materials. “Reliance already recycles over 2 billion PET bottles in India and is on track to reach a capacity of 5 billion bottles per annum by next year,” Ambani added.