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RIL AGM 2022: 5G in two months, FMCG business, other key announcements here

RIL's chairman Mukesh Ambani announced a slew of measures including the launch of 5G services in India in the next two months and the launch of a new Giga factory for power electronics

Reliance Industries | Mukesh Ambani | RIL AGM

BS Web Team  |  New Delhi 

Mukesh Ambani
Illustration: Binay Sinha

Limited (RIL) held its 45th annual general meeting (AGM) on Monday. RIL's chairman made a slew of announcements. The AGM was held virtually for the third time in a row.

Ambani said the company would launch Jio 5G services in India in the next two months. The company has set aside Rs 2 trillion for making it possible.

"Within the next two months, by Diwali 2022, we will launch Jio 5G across multiple key cities including metro cities of Delhi, Mumbai, Chennai and Kolkata," he said.

Ambani further said that by December 2023, Jio aims to link every 'town, taluka, and tehsil' in India with Jio 5G services.

"In sharp contrast [to other companies], Jio will deploy the latest version of 5G called stand-alone 5G with zero dependence on the existing 4G infrastructure," he added.

With Meta, Jio will launch JioMart on WhatsApp.

Jio also announced the launch of JioAirFiber, to allow "fibre-like" data speeds over the air without any wires.

The company will soon launch a Jio 5G experience centre in Mumbai.

Reliance Retail announced that they would launch their FMCG business this year. The company will soon start marketing products produced by tribals and other marginalised communities in India.

In FY22, Reliance Retail recorded an EBITDA of Rs 12,000 crore.

Reliance Retail also registered 4.5 billion visits to its digital platforms in FY22, 2.3 times higher than the previous year.

"Reliance added 2.32 lakh jobs across all its subsidiaries, with Reliance Retail becoming one of the largest employers in the country." The total number of employees of Reliance Retail currently stands at 350,000.

Ambani also announced the launch of a new Gigafactory for power electronics. The company will start producing lithium-ion battery packs by 2023.

The company's green policy comes days after Adani Group unveiled a plan to invest Rs 3 trillion in the green hydrogen sector over the next ten years.

Reliance also announced that it would develop the world's largest single-train PTA plant at Dahej with a capacity of 3 million tonnes per annum. The company will also develop a PET plant with a capacity of 1 MMTPA. Both projects will be completed by 2026.

Reliance will also establish a carbon fibre factory at Hazira.

Ambani added that the company aims to double its value by the end of 2027.

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First Published: Mon, August 29 2022. 15:10 IST