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RIL shuts out VGO unit for about a month

May 10, 2010 · Filed Under Reliance Industries · Comment 

Reliance Industries Ltd has shut a 100,000 barrels per day (bpd) vacuum gas oil (VGO) hydrotreater for about a month at the weekend to change the catalyst, a trade source said on Monday.

Reliance Industries, headed by billionaire Mukesh Ambani, operates the world’s biggest refining complex at Jamnagar in the western Indian state of Gujarat, with capacity to process 1.24 million bpd of crude. The VGO hydrotreater is one of two such units of the same capacity at Reliance’s 660,000 bpd refinery at Jamnagar. The shutdown process started on Friday evening and the unit was fully shut on Saturday. It will remain shut for about 25 days, the trade source, who is familiar with Reliance’s refining complex, said.
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Reliance Life Sciences increases stake in UK arm

January 6, 2010 · Filed Under Reliance Industries · Comment 

Reliance Life Sciences Pvt Ltd, a biotechnology and pharmaceuticals company owned by Reliance Industries Ltdpromoter Mukesh Ambani and his family, has increased its equity holding in its UK-based listed subsidiary Reliance GeneMedix Plc to 79.58% from 74%.

This has been done by converting 34,777,032 warrants issued by GeneMedix Plc in 2007.
Reliance Life acquired GeneMedix, a UK-based biotechnology company listed on the London and Singapore stock exchanges in January 2007, and renamed it Reliance GeneMedix.

As per the terms of the acquisition deal, Reliance Life can raise its shareholding in the UK company up to 86.86%, but it is not known whether there is any time frame for raising the stake.
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RIL Executive Director R Ravimohan passes away

December 30, 2009 · Filed Under Reliance Industries · Comment 

Reliance Industries Executive Director R Ravimohan is no more. He died Monday night due to a severe cardiac arrest. He was 52. Ravimohan is survived by wife Madhuralakshmi, daughter Hridaya and son Jagad.

Regarded as one of India’s finest brains in the financial world, Ravimohan was till last September Managing Director and Region Head, South and South East Asia, Standard & Poor’s.

A qualified chemical engineer and Harvard Business School alumni, Ravimohan was in the special team formed for the acquisition of the petrochemicals company LyondellBasell that was headed by Mukesh Ambani’s right hand man Manoj Modi. He was looking after the acquisition strategy and financial aspects of the deal. It will be difficult for the company to replace such a skilled personality, a company executive said.
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Indian cricketers to play match at Reliance Jamnagar Refinery

December 28, 2009 · Filed Under Reliance Industries · Comment 

Star cricketers of the Indian cricket team, including Sachin Tendulkar, Virendra Sehwag and others will play a day-and-night friendly match at the Reliance Refinery in Moti Khavdi in Jamnagar tomorrow.

The limited overs friendly day-and-night match is to be played between the Indian cricket team and Reliance team, sources from the refinery said here today.

Sources said that the match is nothing more than a family function.

Cricketers like Sachin Tendulkar, Virendar Sehwag, Harbhajan Singh, Gautam Gambhir, Ashish Nehra, Ravindra Jadeja, Sudip Tyagi and players of Mumbai Indians, owned by Reliance for Indian Premier League are likely to play the match, they said.
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Japan PM meets Industrialist Mukesh Ambani

December 28, 2009 · Filed Under Reliance Industries · Comment 

Visiting Japanese Prime Minister Yukio Hatoyama today held discussions with the industrial doyens of India to further the economic and commercial relations between the two countries and to take the strategic Indo-Japanese relations to a new high.

Mr Hatoyama, making his first visit to India after he took over the reins of Japan in September, arrived here yesterday. He would be in New Delhi this afternoon, where he would hold a meeting with Prime Minister Manmohan Singh at the Hyderabad House tomorrow.
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Reliance finds more gas in Krishna-Godavari basin

December 27, 2009 · Filed Under Reliance Industries · Comment 

Reliance Industries on Tuesday said it has made a third successive gas discovery in the D3 deep-sea block in the Krishna-Godavari basin, off the east coast.

Reliance found three gas reservoirs in the KGV-D3-R1 well drilled on the block KG-DWN-2003/1 (or D3), a company statement said here.

The block, located about 45 kilometres off the coast in the Bay of Bengal, is in the vicinity of its prolific D6 block where three of the 19 oil and gas finds have already been put on production.
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Reliance ups LyondellBasell’s non-binding proposal to $5-6 bn

December 27, 2009 · Filed Under Reliance Industries · Comment 

Sources indicate that Reliance Industries (RIL) has updated its non-binding proposal for LyondellBasell (LB). CNBC-TV18 learns that the revised proposal has a significantly higher cash component of USD 5-6 billion from the earlier offer of USD 2 billion. CNBC-TV18’s Nayantara Rai reports.

The Apollo Group, which have an exposure as lenders to LB of about USD 10 billion, have submitted a new restructuring plan in which they had said they would be willing to convert USD 18 billion of secured and bridged loans into equity and to an addition to that USD 2.8 billion as cash to backstop LB’s rights offer.
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Reliance Exploration new President and CEO: Mr Walter Van De Vijver

December 20, 2009 · Filed Under Reliance Industries · Comment 

Mr Walter Van De Vijver has been appointed President and CEO, Reliance Exploration and Production DMCC, a subsidiary of Reliance Industries. Mr Van De Vijver will oversee the operations of the RIL’s current portfolio of international assets, said a company release here.
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Reliance Life Sciences more into biosimilars products

December 20, 2009 · Filed Under Reliance Industries · Comment 

Reliance Life Sciences (RLS), a company promoted by Reliance Industries chairman, Mukesh Ambani, is looking at biopharmaceuticals as a huge thrust area. The company recently launched its fourth biosimilar product, TPA Reteplase. Biopharmaceuticals are medical drugs produced using biotechnology.

RLS has the deepest biosimilar pipeline in the industry globally, said the companys president and CEO, KV Subramaniam. TPA is the fourth biosimilar product from the company and more product launches are in the pipeline, he said. The three products that have been in the market for a while are erythropoietin, GCSF and interferon alpha. Biocon, Wockhardt, Shantha Biotech, Panacea Biotech and Intas are some of RLS competitors in the Indian market.
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Mukesh Ambani: 5th best CEO in the world

December 18, 2009 · Filed Under Reliance Industries · Comment 


Mukesh Ambani, who heads India’s most valuable company Reliance Industries, has been ranked among top five best performing CEOs in the world by the prestigious Harvard Business Review.
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