Mumbai: With a newly launched financial services unit planning to offer insurance products, a telecom arm Jio providing wireless broadband services to homes, and illustrious investors queuing up for a piece of the retail unit, billionaire Mukesh Ambani on Monday mapped out the next phase of growth for his USD 200 billion-conglomerate.
For example, the company plans to build 100 facilities to process agri-residue, a major contributor to air pollution in the north during the colder months, into a gas that can be used to power vehicles and produce electricity. This is being done in an effort to reduce the environmental impact of the company's core fossil fuel operations.
Reliance Industries Chairman Mukesh Ambani said at the company's annual shareholders meeting that his three children will join the company board as part of the succession planning.—Inputs from Agencies