Rs485-crore investment plan for IPCL

By Our Corporate Bureau | 28 Jun 2005

1

Vadodara: Ruling out the merger of Indian Petrochemicals Corporation Ltd (IPCL) and Reliance Industries Ltd (RIL), RIL chairman Mukesh Ambani on Monday announced a 45 per cent dividend for IPCL shareholders, while outlining an investment of Rs485 crore for the company.

Ambani also announced a number of new expansion projects for IPCL, including increasing the Vadodara plant''s cracker capacity by 12-thousand tonnes of ethylene annually, expanding benzene capacity by 14,000 tonnes, expanding the PVC plant capacity from 245,000 tonnes to 315,000 tonnes, among others.

"IPCL has taken up seven expansion projects at Vadodara and Gandhar. These projects involve an investment of Rs485 crore and are expected to be completed by middle of next financial year," Mukesh said here, at AGM of IPCL. He also stated categorically, "There is no proposal to merge IPCL and RIL," Mukesh said. "The merger is not on the agenda of the board."

 

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more