Reliance eyes expansions for west India refineries
The company's head of refinery operations, Tony Fountain, made the comments to reporters. He said Reliance's chairman has a target of doubling revenue for the company, with downstream a significant part.
By SAURABH CHATURVEDI
NEW DELHI -- Reliance Industries is looking to expand capacity at its refineries in the western state of Gujarat, a senior executive said Monday.
"Our chairman (Mukesh Ambani) has set a target of doubling revenue for Reliance Industries. Downstream is very much part of it," the company's head of refinery operations, Tony Fountain, told reporters.
"We are very much looking at all sorts of plans."
Mr. Fountain didn't provide further details. The company operates twin refineries at Jamnagar in Gujarat.
Fountain also said Reliance is looking at refinery configurations to produce more value-added products, according to news reports.
Earlier this year, Reliance unveiled an $18 billion investment plan for India over the next five years.
Dow Jones Newswires