Reliance eyes Punjab, Haryana

Petrochemical major lines up Rs 4,000 crore for foray in agri-business

Mukesh Ambani-controlled Reliance Industries Ltd plans to invest over Rs 4,000 crore in north India, especially in Haryana and Punjab, in the agri-business and agri-retail sector.

"The petrochem giant is believed to have tied up more than 900 acres in Punjab, just days after it was allotted 28 acres for building two projects at an investment of Rs 93 crore in Haryana," sources said.

"RIL's agri-business plans revolve around forward and backward linkages in the agriculture and food retail sector across the region," sources said.

Indicating the mega-scale of the company's operations, sources said the company planned to build warehouses, cold storage, processing plants, retail and distribution outlets.

"Moreover, the corporate giant will build an airstrip and buy cargo aircraft to transport farm and dairy products out of Punjab and Haryana and fruits from Himachal Pradesh," sources said.

The company also plans to enter into contract farming agreements with local farmers in Punjab and Haryana.

RIL's agri-business is expected to synergise its retail operations across the country, for which Mukesh had announced an investment of about Rs 3,500 crore in January.

Reliance has also formed a company called Jamnagar Farms Pvt Ltd for its agri-business plans in its Jamnagar refinery complex.