The board of directors of Reliance Energy Ltd has decided to change the name of the company to "Reliance Infrastructure Ltd", subject to shareholders and statutory approvals.
In a regulatory filing the company said, "Reliance Energy Ltd is the largest private player in the electricity sector across the entire value chain (generation, transmission, distribution, trading and EPC). However, over the past two and half years, the company has emerged as a leader in all areas of infrastructure business.
"The new name "Reliance Infrastructure Ltd" will adequately reflect the current nature of the businesses in the company fold and in line with the company's vision to tap and play a vital role in the emerging potential in the country for infrastructure development".
The filing statement said that Reliance Energy is currently:
- Largest private power sector EPC player in the country with order book of over Rs8,000 crore.
- Largest power transmission infrastructure developer in private sector including the western region strengthening system, (WRSS) the only 100 per cent owned power transmission project to be developed by private player in the country.
- Largest private sector metro rail project developer in the country with 12km VAG corridor in Mumbai and 22.7 km airport link in Delhi
- Largest concessionaire for NHAI and building over 400 kms of road highway projects.
- Preferred bidder to construct the 25 km long, country's longest, bridge over sea link (MTHL) in Mumbai.
"Apart from the above REL is constructing the country's tallest 100 storey corporate park in Hyderabad and has plans for setting SEZ in Noida and Mumbai and is in advanced stages of bidding for several metro, airports, highway and energy distribution projects across the country.
"The new name reflects the branding philosophy followed by the ADA Group, where name signifies the space in which business operates and create a sharper brand presence among the stakeholders.
"The name change will not affect any of the rights of the company or the shareholders of the company", the filing added.