Reliance Industries

Reliance Industries Limited (RIL) has signed Gas Sales and Purchase Agreement (GSPA) with the nine customers in power sector for supply of natural gas to be produced from the KG-D6 block.
The GSPAs were signed with nine customers to supply approximately 11.0 million standard cubic meters (mmscmd) natural gas at 11 different powergeneration facilities. Gas to the customers would be transported through the East-West Pipeline of Reliance GasTransportation Infrastructure Limited (RGTIL) and through pipelines of GAIL and GSPL. The power companies also signed Gas Transportation Agreement (GTA) with RGTIL. The list of power companies with whom GSPA were signed is Annexed. RIL expects to sign GSPA with other power companies shortly, which is expected to increase the contracted quantity of gasfor the power sector to 18 mmscmd.

- Chairman & Managing Director of Reliance Industries Ltd
- Conferred ‘ET Business Leader of the Year’ Award by The Economic Times (India) in the year 2006
- Bestowed the US-India Business Council (USIBC) ‘Global Vision’ 2007 Award for Leadership in 2007
Makes debut as India’s richest, despite the fact that net worth fell in the past year as stock price of petrochemicals flagship Reliance Industries tanked. He is now ranked 7th in Forbes’ Billionaires List.
Unfazed, Mukesh upped Reliance stake, paying $3.4 billion to convert 120 million preferential warrants into shares, at a premium to stock price.

His sons and heirs, Mukesh and Anil (estimated net worth for both: $2.8 billion), went on an expansion frenzy and successfully bolstered Reliance’s presence in power generation, oil exploration, finance and biotech, consolidating the company’s position as a leading player in India’s fast-growing telecom sector. But they never managed to get on together and the consortium had to split.

From energy to distribution, Mukesh managed to found his empire, worth 2.2% of India’s PIB. Nevertheless, Anil developed his company on India’s star sectors, computing and communication.

Mukesh and Anil AmbaniThe years of rivalry between the two holdings have already had positive effects. “The growth of the Reliance groups is superior to what it would have been if they had stayed under the same banner” states an analyst. This separation boosts both sides. It is a story about jealousy and power, business and traditions, families that break up for ‘futile’ reasons.

The proof being that when things got even worse, the family turned to an Indian clairvoyant, who predicted the upcoming separation…

Nº1 of the private sector in India

The largest private sector company in India, it is ranked 206th in the Fortune Global 500 list. Its revenues ascend to $36 billion, profits to $5 billion and assets to $44 billion. Its CEO and owner, Mukesh Ambani, is ranked 7th in the Forbes list with a personal fortune of $19.5 billion.
Though the company’s oil-related operations form the core of its business, it has diversified its operations in recent years. After severe differences between the founder’s two sons, Mukesh Ambani and Anil Ambani, the group was divided between them in 2006. In September 2008, Reliance Industries was the only Indian firm featured in the Forbes‘s list of “world’s 100 most respected companies”.
This is Reliance. This is wealth.

The representative at the convention held in Frankfurt of this Indian giant was congratulated by Jose E. Prieto himself during the ceremony.