RIL lines up USD30bn investment over next three years

18 Jun 2014

Indian petrochemical behemoth Reliance Industries Ltd (RIL) plans to invest INR1.8 trillion (USD29.85 billion) across its businesses over the next three years, Reuters quotes owner and chairman Mukesh Ambani as saying. The billionaire did not specify how the funds would be distributed amongst the group’s telecom, gas and oil operations. RIL’s telecoms startup Reliance Jio Infocomm Ltd (RJIL) is gearing up to launch its 4G networks by September this year, ahead of the May 2015 deadline stipulated in its licence. The cellco purchased 20MHz of pan-India 2300MHz band spectrum in 2010 and will utilise the frequencies for Time Division Long Term Evolution (TD-LTE) services, whilst the 1800MHz airwaves it purchased earlier this year will be used for a Frequency Division (FD)-LTE network. As noted by CommsUpdate earlier this week, RJIL has reportedly entered into negotiations with Reliance Communications (RCOM) – which is backed by Mukesh Ambani’s brother, Anil – regarding a spectrum sharing deal whereby Jio would use RCOM’s 800MHz and 2100MHz frequencies to augment its LTE services. RCOM and RJIL have previously signed a number of partnership deals, including pacts to share inter and intra-city fibre-optic cable networks as well as tower sites.