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A better balancesheet, green plans behind RIL's change of tack for oil biz

RIL now plans to take in partners in its new energy and specialty chemical businesses which means its subsidiaries will take different directions based on their requirement for technology tie-ups

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Reliance Industries Limited and Saudi Aramco signed a non-binding letter of intent in August 2019 for a potential 20 per cent stake acquisition by Saudi Aramco in the O2C business of Reliance

Jyoti Mukul New Delhi

3 min read Last Updated : Nov 20 2021 | 1:39 PM IST

Reliance Industries Ltd’s (RIL) decision to not carve out its oil to chemicals (O2C) business into a separate company and get in Saudi Aramco as a partner in it may have a lot to do with a realignment that is needed to strengthen its green energy foray. At the same time, its better debt position with cash and cash equivalent at Rs 259,476 crore surpassing its gross debt of Rs 255,891 crore puts it in a better financial position, obviating the need to get in any equity support.

RIL now plans to take in partners in its new energy and

Topics : Coronavirus Reliance Industries Saudi Aramco

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