India's Reliance Industries Ltd will become a major provider of clean energy in the country, Chairman Mukesh Ambani said, as the South Asian nation transitions to renewable energy sources from fossil fuels. India is one of the world's biggest users of coal, and renewable energy such as solar power is a priority for Prime Minister Narendra Modi's government.
"Can Reliance become a leading provider of clean and affordable energy to India? Yes we can and yes we will," billionaire Ambani said at a function on Saturday to mark 40 years of the company. Reliance, owner of the world's biggest refining complex and also a leading petrochemicals player, expanded its tie-up with BP earlier this year to meet India's rising fuel and renewable energy demand.
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017