RIL to invest $14-billion in oil sector; set up east-west pipeline
04 August 2007
Mumbai: Reliance Industries Limited (RIL) will invest a massive $12-14 billion in various projects, involving exploration and production and laying of a 1,400-km east-west pipeline, over the next two to three years.
"We will invest around $12-14 billion in the next two to three years. This will go in areas like E&P, laying of pipeline and other works," RIL president (development & production) Subhash C Varma said, adding that laying of the 1,400 km east-west pipeline alone would cost RIL around $3 billion.
The company would invest Rs23,000 crore in various oil and gas development projects over the next one to two years, he said, adding that RIL is also planning to create a national gas grid.
investment also includes some of our activities overseas," Varma said.