Setting its sight on a number of new businesses and expansion of existing ones, billionaire Mukesh Ambani-led Reliance Industries group may invest more than R1,50,000 crore over the next five years.
The group has a cash pile of over R42,000 crore, which has nearly doubled in one year. Further money influx is expected in the next few months, and the company is likely to raise further funds from the market, mostly through overseas bonds and partly through project equity, sources said.
Investments totalling nearly R100,000 crore is expected in the group’s core businesses of petrochemicals and energy exploration and production over the next five years, they added.
Telecom, power and financial services arms will also attract about Rs 50,000 crore, they said.