Reliance : Major Milestones
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Major Milestones

  • Reliance Jio and Bharti signed agreement under which Reliance Jio will utilize dedicated fiber pair on Bharti's i2i submarine cable that connects India and Singapore. The i2i cable system will provide Reliance Jio direct access and ultra-fast connectivity to major hubs across Asia Pacific.

  • RIL and its partners announced a significant gas and condensate discovery (MJ-1 discovery) in the KG-D6 block off eastern coast of India.

  • S&P upgraded the long-term corporate credit rating on Reliance to 'BBB+' from 'BBB', one of the highest ratings by S&P for an Indian corporate and the highest rating by S&P for an Indian Oil & Gas company. The new rating is two notches above the rating for the Indian sovereign.

  • Reliance Jio and Reliance Communications signed agreement for sharing of RCom's nationwide telecom towers infrastructure.

  • RIL-BP announced a new gas condensate discovery off the east coast of India in the deepwater block CY-DWN-2001/2 (CY-D5) in the Cauvery basin.

  • Reliance Jio received Unified License for all 22 Service Areas across India and becomes the first telecom operator in the country to get pan India Unified License.

  • Reliance Jio acquired spectrum in 14 key circles across India in the 1800 MHz band in the spectrum auction conducted by DoT, Government of India.

  • Reliance Jio and Viom Networks signed agreement for sharing of Viom's nationwide telecom towers infrastructure.

  • RIL selected for two offshore blocks (M17 and M18) in Myanmar Offshore Block Bidding Round - 2013.

  • Reliance Jio and ATC India signed a tower sharing agreement for utilizing telecom tower infrastructure of ATC India across the country.

  • RIL commissioned new PFY plant at Silvassa which is the most automated and one of the most environment-friendly plants globally.

  • RIL signed a US$ 2 billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India.

  • The Global Reporting Initiative (GRI) awarded A+ level to RIL's Sustainability Report 2011-12. This is the seventh year in a row RIL has received highest application level on sustainability reporting. RIL is also the first company to adhere to the GRI 3.1 Oil & Gas Sector Supplement, released in February 2012.

  • RIL and the Venezuelan state oil company, Petroleos de Venezuela, SA (PDVSA) signed a 15 year heavy crude oil supply contract and a Memorandum of Understanding (MoU) with PDVSA to further development of Venezuelan heavy oil fields. PDVSA will supply between 300,000 and 400,000 barrels per day of Venezuelan heavy crude oil to RIL's two refineries in Jamnagar under a 15-year crude oil supply contract.

  • The Board of Ex-Im Bank voted to extend the single largest financing transaction of US$ 2.1 to RIL. This includes direct loan and to guarantee a US$ 1.06 billion JPMorgan Chase loan to the Company. The loan will be primarily used to finance goods and services procured from exporters and suppliers in the United States as part of Reliance's expansion projects at Jamnagar, Gujarat.

  • The share buy-back programme which ended in January 2013, RIL bought and extinguished 46,246,280 equity shares of Rs. 10 each. It was 38.54% of the total buy-back offer quantity of 120,000,000 equity shares. The total amount invested in the buy-back was Rs. 3,366 crore and the average price at which the equity shares were bought back was Rs. 726.68 per share.

  • RIL's SEZ Refinery at Jamnagar won the prestigious 'Globe of Honor Award' for the excellence in Environmental management by the British Safety Council, London.

  • RIL was awarded the prestigious 'International Refiner of the Year' 2013 at HART Energy's 27th World Refining & Fuel Conference held in USA. The award was presented to Reliance for producing cleaner, higher-quality gasoline and diesel fuel, operating with the highest international refining standards and innovative use of resources in diverse environments and for innovation, global vision, and ability to chart future changes. RIL is the only Asian refiner to have been conferred this award twice.

  • In April 2011, RIL announced a rich gas and condensate discovery in the very first well drilled in the block CY-PR-DWN-2001/3(CYPR-D6) located in deepwater Cauvery-Palar basin.

  • RIL was awarded Application Level A+ certification by Global Reporting Initiative (GRI) for its FY 2010-11 Sustainability Report- "New Businesses. New Technologies. New partnerships. (2011)".

  • In January 2012, RIL announced India's largest share buy-back programme comprising buyback of up to 120,000,000 fully paid up equity shares of Rs. 10 each, at a price not exceeding Rs. 870 per equity share, payable in cash, up to an aggregate amount not exceeding Rs. 10,440 crore from the open market through stock exchange.

  • In February 2012, RIL and SIBUR formed a JV to manufacture butyl rubber in India with targeted production capacity of 100,000 tonnes per annum. This JV will be the fourth largest producer of butyl rubber globally. RIL's share in the JV will total 74.9% while SIBUR will account for the rest.

  • In March 2012, RIL became the first Indian company to be certified as "Responsible Care Company" under stringent standards of American Chemistry Council (ACC), USA. RIL's Petrochemical Business won this accolade for its robust management system that ensures highest standards of health, safety, security and environmental performance for both its products and operations.
  • During the year, RIL and BP announced a strategic partnership in the oil and gas business. This partnership comprises BP taking 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the KG-D6 block, and the formation of a joint venture (50:50) for sourcing and marketing gas in India.

  • During the year, the Company took a significant step by entering into partnerships in the United States of America with Atlas Energy, Pioneer Natural Resources and Carrizo Oil & Gas through three distinctive joint venture agreements. It has also entered into a separate joint venture with Pioneer Natural Resources aimed at addressing the mid-stream opportunity in gas evacuation and transportation.

  • During the year, RIL and Russia's SIBUR announced a joint venture for the setting up of a facility for producing 100,000 tonnes of butyl rubber in India.

  • During the year, RIL acquired a 95% stake in Infotel Broadband Services Limited, which emerged as a successful bidder in all the 22 circles of the auction for Broadband Wireless Access (BWA) spectrum conducted by the Department of Telecommunication, Government of India. RIL has invested Rs. 4,201.64 crore by way of subscription to equity capital issued by Infotel Broadband.
  • With the commissioning of the new refinery in its Special Economic Zone (SEZ), Jamnagar has now become the petroleum hub of the world. With 1.24 Million Barrels Per Day (MBPD) of nominal crude processing capacity, it is the single largest refining complex in the world.

  • A T Kearney lists RIL as one of the Top 25 Global Champion for 2009 which managed to outperform the competition in the midst of global financial meltdown.

  • Boston Consulting Group (BCG) ranks RIL as the 5th most sustainable value creators.

  • RIL announced issue of bonus shares in the ratio of one equity share for every one equity share (1:1) held in the Company.
  • RIL announced the first oil discovery in the onland exploratory block CB-ONN-2003/1 (CB 10 A&B) awarded under the NELP-V round of exploration bidding.
  • RIL joins the league of global deepwater oil and gas operators - RIL commenced production of hydrocarbons in its KGD6 block in the Krishna Godavari basin with the production of sweet crude of 420 API. The production of oil in KG-D6 was commissioned in just over two years of its discovery, making it the world’s fastest green-field deepwater oil development project.

  • RPL merger with RIL: Value creation through scale and synergies - The merger of Reliance Petroleum Limited (RPL) with Reliance Industries Limited (RIL) has enabled seamless integration of operational scale and financial synergies that existed between the two Companies. Assets and liabilities of RPL have been transferred to RIL with effect from 1st April 2008, as per the approval granted by the Hon. High Courts of Mumbai and Gujarat. Shareholders of RPL received 1 share of RIL in lieu of every 16 shares of RPL held by them, as per the scheme of merger. Accordingly, 6.92 crore new equity shares of RIL have been allotted to the shareholders of RPL.

  • During the year, Reliance signed an agreement to acquire certain polyester (capacity) assets of Hualon, Malaysia.

  • In the Refining & Marketing business, Reliance took over majority control of Gulf Africa Petroleum Corporation (GAPCO) and started shipping products to the East African markets.

  • Reliance also signed MoU with GAIL (India) Limited to explore opportunities of setting up petrochemical plants in feedstock rich countries outside India.

  • Reliance Petroleum Limited (RPL) continued the second year of implementation of its refinery project with an overall project progress of 90%.

  • During the year, Reliance Retail Limited (RRL) continued its rollout of stores across various verticals and formats. Reliance Retail today operates over 590 stores in 57 cities, spanning 13 states, with over 3.5 million square feet of trading space.

  • Value creation through integration - A landmark merger of Indian Petrochemicals Corporation Limited (IPCL) with Reliance Industries Ltd. (RIL) has been completed.
  • Reliance Retail entered the organised retail market in India with the launch of its convenience store format under the brand name of 'Reliance Fresh'.

  • The world's largest polyester expansion project commissioned during the year. We brought a Polyester capacity of 550 KTA on stream at globally competitive costs in a record time of eighteen months. With this expansion, our polyester capacity has been augmented to 2 million tonnes per year. Subsequently, Reliance now have 4% of global polyester capacity and 6% of global production.

  • During the year, we expanded our polypropylene (PP) capacity by 280 KTA at Jamnagar that increased the combined capacity to 1,710 KTA. With this expansion, we now have 3.5% of global PP capacity and 3.6% of global PP production.

  • RIL commences the setting up of a new export-oriented refinery through its subsidiary, Reliance Petroleum Limited (RPL). The refinery will have a total atmospheric distillation capacity of approximately 580,000 barrels per stream day with a Nelson Complexity of 14.0 and an integrated polypropylene plant with a capacity of 0.9 Million TPA. The capital cost of the RPL project is estimated at Rs 27,000 crore (approximately US$ 6 billion). RPL completes its US$ 1.2 billion Initial Public Offering of equity shares which received an overwhelming response across different classes of investors.

  • Reliance's debt ratings from S&P and Moody's pierce India's sovereign ratings.

  • Reliance becomes India's first private sector enterprise to cross US$2 billion profit mark.
  • The Mumbai High Court, shareholders and creditors approve demerger proposal

  • Reliance Industries Limited (RIL) emerged as the 'Petrochemicals Company of the Year' at the prestigious sixth annual Platts Global Energy Awards ceremony in New York, USA.

  • The Board of Directors of Reliance Industries Limited approved the buyback of its fully paid up equity shares of Rs.10 each, at a price not exceeding Rs 570 per share, payable in cash, up to an aggregate amount not exceeding Rs 2,999 crore. This amount represents the limit of 10% of the total paid up equity share capital and free reserves of the Company as on March 31, 2004.

  • The European Commission approved the acquisition of the German specialty polyester manufacturer 'Trevira' by Reliance.

  • Reliance Industries emerged as the first and only private sector company from India to feature in the 2004 Fortune Global 500 list of World's Largest Corporations

  • Reliance announced it had struck gas off the Orissa Coast in the Bay of Bengal.

  • RIL became the first private sector company in India to record a net profit of US dollar of over 1 billion.

  • Reliance Associate, Sunbright, signed a Memorandum of Understanding (MoU) with National Organic Chemicals Industries Limited (NOCIL) to take over its Petrochemicals and Plastics Products Divisions.

  • Reliance announces Strategic Alliance with Bongaigaon Refinery & Petrochemicals Ltd. (BRPL) to restart PSF manufacturing at BRPL.

  • Reliance Infocomm acquires FLAG Telecom, a multinational telecom company providing bandwidth through its undersea cable network comprising of over 50,000 kms of undersea fiber optic cable that spans four continents and connects the key regions of Asia, Europe, Middle East and the USA.

  • State-of-the-art Research and Technology Centre is inaugurated at Reliance's Patalganga complex to develop differentiated polyester products.

  • Reliance strikes oil in an onshore block in Yemen, where it has an equity oil position.

  • Reliance's refinery at Jamnagar was ranked best in Shell Benchmarking for the third consecutive year in 'Energy and Loss' performance from amongst 50 refineries worldwide.

  • Reliance dedicates 23rd January as Shareholder's Day on the occasion of 25 years of the company going public - A story of Relationship and Trust.

  • BSES, one of the premier utility companies of the country, engaged in the generation, transmission and distribution of electricity becomes part of the Reliance Group and Mr. Anil D Ambani is appointed its Chairman.
  • Reliance Infocomm to launch various telecom services on 28th December - beginning with Gujarat, the Infocomm revolution will cover thousands of villages and hundreds of cities across the country. Reliance Infocomm will become a major catalyst for changing the face of India and improving the quality of life of Indians.

  • Reliance announced India's biggest gas discovery in nearly three decades and one of the largest gas discoveries in the world during 2002. The in place volume of natural gas is in excess of 7 trillion cubic feet, equivalent to about 1.2 billion barrels of crude oil. This is the first ever discovery by an Indian private sector company.

  • Reliance acquired control of Indian Petrochemicals Corporation Limited (IPCL) - India's second largest petrochemicals company.

  • Reliance signed MOU with DuPont Polyester Technologies to license the revolutionary resin technology NG-3 from DuPont. Reliance announced its plan for the expansion of PET capacity by 220,000 tonnes per year.

  • The merger of Reliance Petroleum Limited with Reliance Industries Limited was announced - largest ever merger in India - Reliance Industries became the largest private sector company in India on all major financial parameters including sales, profits, net worth, assets, and exports.

  • Dhirubhai Ambani was conferred The Economic Times Award for Corporate Excellence for Lifetime Achievement.

  • Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest companies in terms of all major financial parameters.

  • Jamnagar Petrochemicals and integrated refinery complex commissioned

    • World's largest grassroots refinery - 27 million tpa refinery, the 5th largest in the world.

    • World's largest PX Plant of 1.4 million tpa

    • World's largest PP Plant of 0.6 million tpa

    • World-class product handling, storage, and despatch facilities.
  • Dhirubhai Ambani was awarded the Dean's Medal by the Wharton School, University of Pennsylvania, USA, for setting an outstanding example of leadership.

  • Reliance completed phase-II expansion of Hazira Petrochemicals Complex including world's largest multifeed cracker, PET plant, MEG plant, PTA plant, PE plant
  • First corporate in Asia to issue 50 and 100 years bond in US debt market

  • Reliance became the first private sector company to be rated by international credit rating agencies. S&P rated BB+, stable outlook, constrained by the Sovereign Ceiling. Moody's rated Baa3, Investment grade, constrained by the Sovereign Ceilings.
  • Net profit crossed the Rs 1,000 crore mark (Rs 1,065 crores or US$ 338 million), unparalleled in the Indian Private sector
  • Reliance offered the second Euro issue of GDR
  • Reliance Petroleum Limited public issue - India's largest public offering.

  • Reliance pioneered the first ever Euro Convertible Bond issue by an Indian company.
  • Reliance raised funds by pioneering foray into overseas capital markets with first ever international GDR offering by an Indian corporate.

  • Reliance commenced the production of High Density Polyethylene (HDPE) at Hazira.
  • Reliance commissioned phase-I of Hazira Petrochemicals Complex - consolidated its position in polyesters and entered into attractive polymers business - started VCM and PVC plants.
  • Reliance started the PX plant at Patalganga
  • Reliance commenced the Linear Alkyl Benzene (LAB) plant at Patalganga
  • Reliance started PTA plant at Patalganga.

  • Reliance commissioned Polyester Staple Fibre (PSF) plant at Patalganga.
  • Reliance entered phase-II of the Polyester Filament Yarn (PFY) plant at Patalganga.
  • Reliance launched phase-I of the Polyester Filament Yarn (PFY) plant at Patalganga.
  • Reliance went public with IPO - Dhirubhai Ambani introduced equity cult in India, a new model of business leadership from a base of the broadest public shareholding.