From the 42nd annual general meeting (AGM) of Reliance Industries Ltd (RIL), chairman Mukesh Ambani shared his views and outlook on the way forward for the company.
RIL will become zero-debt company in next 18 months, by the end of FY21. Company’s current net debt is at Rs 1.54 lakh crore, he said.
Saudi Aramco will acquire 20 percent stake in oil-to-chemical business at EV of USD 75 billion.
RIL’s EBITDA will grow at 15 percent in next five years, he added.
Commercially, Jio Fiber will be launched on September 5 and will be priced between Rs 700 and Rs 10,000 per month.
Voice calls from home to any Indian operator, mobile or fixed will be free. The company will also introduce unlimited international calling pack at Rs 500 per month for fixed line services.
Jio and Microsoft will set up data centres using Azure platform.Disclosure:
RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.