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Committed to his vision for new materials, Reliance Industries Chairman Mukesh Ambani at the 45th AGM on Monday announced the construction of India’s first and one of the world’s largest carbon fiber plants in Hazira, Gujarat. The plants based on acrylonitrile feedstock will have a capacity of 20,000 MTPA.
Addressing the AGM, Ambani said, “In line with our vision for new materials, we are building India’s first and one of the world’s largest carbon fiber plants at Hazira with a capacity of 20,000 MTPA based on acrylonitrile feedstock. will do.”
In addition, Ambani announced that the company will start ACN production next year and the first phase of carbon fiber in 2025.
“We will integrate the composites business with carbon fiber to produce carbon fiber composites. Carbon fiber promises to be a multi-decade growth engine for O2C,” Ambani said.
Notably, during the AGM, Ambani announced the investment of 75,000 crore over the next 5 years to expand capacities in existing and new value chains. These new value chains are polyester value chain, vinyl value chain and new materials.
Ambani said, “Reliance has embarked on its journey to become net carbon zero by 2035 with a set of concrete actions. Within a year, the consumption of renewable energy at Reliance grew by 352%.”
“Decarbonizing the global economy will require a multi-decade investment in green and clean energy of $5 trillion per year globally. It also provides unprecedented opportunities for multi-decade growth,” he said.
During Q1FY23, RIL’s O2C business delivered its best quarterly performance with all-time high revenue and EBITDA. Segment revenue up 56.7% for the first quarter of FY 2013 161,715 crore mainly on account of increase in crude oil and product prices. The average price of benchmark Brent crude rose 65% year over year to $113.9 a barrel. Segment EBITDA for 1Q FY23 grew by 62.6% 19,888 crore mainly due to sharp increase in transportation fuel cracks and better volumes. The company maintained high utilization levels across sites and units with a total throughput (including refinery) of 19.7 MMT, marginally higher than Q1 FY22.
Addressing the AGM, Ambani said, “In line with our vision for new materials, we are building India’s first and one of the world’s largest carbon fiber plants at Hazira with a capacity of 20,000 MTPA based on acrylonitrile feedstock. will do.”
In addition, Ambani announced that the company will start ACN production next year and the first phase of carbon fiber in 2025.
“We will integrate the composites business with carbon fiber to produce carbon fiber composites. Carbon fiber promises to be a multi-decade growth engine for O2C,” Ambani said.
Notably, during the AGM, Ambani announced the investment of 75,000 crore over the next 5 years to expand capacities in existing and new value chains. These new value chains are polyester value chain, vinyl value chain and new materials.
Ambani said, “Reliance has embarked on its journey to become net carbon zero by 2035 with a set of concrete actions. Within a year, the consumption of renewable energy at Reliance grew by 352%.”
“Decarbonizing the global economy will require a multi-decade investment in green and clean energy of $5 trillion per year globally. It also provides unprecedented opportunities for multi-decade growth,” he said.
During Q1FY23, RIL’s O2C business delivered its best quarterly performance with all-time high revenue and EBITDA. Segment revenue up 56.7% for the first quarter of FY 2013 161,715 crore mainly on account of increase in crude oil and product prices. The average price of benchmark Brent crude rose 65% year over year to $113.9 a barrel. Segment EBITDA for 1Q FY23 grew by 62.6% 19,888 crore mainly due to sharp increase in transportation fuel cracks and better volumes. The company maintained high utilization levels across sites and units with a total throughput (including refinery) of 19.7 MMT, marginally higher than Q1 FY22.
Reliance Industries will build the world's largest carbon fiber plant. details here - Thelocalreport.in
Committed to his vision for new materials, Reliance Industries Chairman Mukesh Ambani at the 45th AGM on Monday announced the construction of India’s first and one of the world’s largest carbon fiber plants in Hazira, Gujarat. The plants based on acrylonitrile feedstock will have a capacity of...
m.thelocalreport.in
