Mukesh Ambani today unveiled RIL’s mega plans for power and telecom to double enterprise value to USD 160 billion (Rs 5,00,000-cr) in 10 years, as also intent to supply gas to Anil Ambani Group’s power plants.

Free to enter new businesses after scrapping a non-compete pact with brother Anil, Mukesh talked up the investors.

“As and when the power plants of ADAG are ready to receive gas, we would commence supplies to them subject to government granting allocation…,” Ambani told shareholders at the 36th Annual General Meeting here.

RIL, India’s most valuable company with a market capitalisation of Rs 3.45 lakh crore, plans to use its strong balance sheet to fund coal, thermal and nuclear power plants, add capacity to produce polyester and chemicals to create “unprecedented value” for investors. Read the full story