The Reliance Group, founded by Dhirubhai H. Ambani , is India's largest private sector enterprise, with businesses in the energy and materials value chain. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India.
Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a global leader in the materials and energy value chain businesses. It was in 1957 when he returned to India after a stint with A.Besse& Co., Aden he started yarn trading business from a small 500 sq.ft. office in Masjid Bunder, Mumbai.he set up his brand new mill in Naroda, Gujarat. In 1996 Reliance went on to become the biggest textile brand ‘Only Vimal’. In 1977 the Reliance Textile Industries came with an IPO which was oversubscribed seven times.
Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products.
Starting as a small textile company, Reliance has in its journey crossed several milestones to become a Fortune 500 company in less than 3 decades.
Reliance Industries Limited operates world-class manufacturing facilities across the country at Allahabad, Barabanki, Dahej, Dhenkanal, Hazira, Hoshiarpur, Jamnagar, Kurkumbh, Nagothane, Nagpur, Naroda, Patalganga, Silvassa and Vadodara.
Allahabad Manufacturing Division located in Allahabad, Uttar Pradesh, is spread over 105 acres. It is equipped with polymerization and continuous polymerization facilities.
Barabanki Manufacturing Division located near Lucknow, Uttar Pradesh, is spread over 106 acres. It manufactures Black Fibre.
Dahej Manufacturing Division located near Bharuch, Gujarat, is spread over 1,778 acres. It comprises of an ethane / propane recovery unit, a gas cracker, a caustic chlorine plant and 4 downstream plants, which manufacture polymers and fibre intermediates.
Dhenkanal Manufacturing Division located in Baulpur, Orissa, is spread over 227 acres. It manufactures polyester staple fibre.
Hoshiarpur Manufacturing Division located in Hoshiarpur, Punjab, is spread over 69 acres. It manufactures a wide range of PSF, PFF, POY and polyester chips.
Hazira Manufacturing Division located near Surat, Gujarat, is spread over 700 acres. It comprises of a Naptha cracker feeding downstream fibre intermediates, plastics and polyester plants.
Jamnagar Manufacturing Division located in Jamnagar, Gujarat, is spread over 7,400 acres. It comprises of a petroleum refinery and associated petrochemical plants. The refinery is equipped to refine various types of crude oil (sour crude, sweet crude or a mixture of both) and manufactures various grades of fuel from motor gasoline to Aviation Turbine Fuel (ATF). The petrochemicals plants produces plastics and fibre intermediates.
Kurkumbh Manufacturing Division located near Pune, Maharashtra, is spread over 34 acres. It manufactures fibre intermediates.
Nagothane Manufacturing Division located in Raigad, Maharashtra, is spread over 1,860 acres. It comprises of an ethane and propane gas cracker and five downstream plants for the manufacture of polymers, fibre intermediates and chemicals.
Nagpur Manufacturing Division located in Nagpur, Maharashtra, is spread over 368 acres. It manufactures polyester filament yarn, dope-dyed specialty products of different ranges, fully drawn yarn and polyester chips.
Naroda Manufacturing Division located near Ahmedabad, Gujarat, is RIL’s first manufacturing facility and is spread over 150 acres. This synthetic textiles and fabrics manufacturing facility manufactures and markets woven and knitted fabrics for home textiles, synthetic and worsted suiting and shirting, ready to wear garments and automotive fabrics.
Patalganga Manufacturing Division located near Mumbai, Maharashtra, is spread over 200 acres. It comprises of polyester, fibre intermediates and linear alklyl benzene manufacturing plants.
Silvassa Manufacturing Division located in the Union Territory of Dadra and Nagar Haveli, is spread over 127 acres. It manufactures a wide range of specialty products such as Recron Stretch, Linen Like, Melange, Thick-n-thin and Bi-shrinkage yarns.
Vadodara Manufacturing Division located in Vadodara, Gujarat, is spread over 1,263 acres. It comprises of a Naptha cracker and 15 downstream plants for the manufacture of polymers, fibres, fibre intermediates and chemicals.
The company works under different business segments:
- Exploration and Production
- Petroleum Refining and Marketing
Products and brands offered by the company:
- Crude oil and natural gas
- Jet/Aviation Turbine Fuel
- Superior Kerosene Oil
- High Speed Diesel
- Petroleum Coke
- High Density Polyethylene
- Low Density Polyethylene
- Linear Low Density Polyethylene
- Polyvinyl Chloride
- Poly –Olefin
- Suitings ,Shirtings,Readymade Garments
- Furnishing fabrics
- Day curtains
- Automotive upholstery
- Take away fabric
- Fleet management services
- Highway hospitality services
- Vehicle care services
- Linear Alkyl Benzene
- Purified Terephthalic Acid
- Mono Ethylene Glycol
- Staple Fibre
- Filament Yarn
- Texturised yarn
- Twisted yarn
- Moisture management yarn
- Quality certified sleep products
- Polyethylene terephthalate
- Reliance Petroleum Limited
- Reliance Netherlands B.V.
- Reliance Retail Limited
- Reliance Jamnagar Infrastructure Limited
- Reliance Haryana SEZ Limited
- Reliance Industrial Investment and Holdings Limited
- Reliance Ventures Limited
- Reliance Strategic Investments Limited
- Reliance Exploration and Production DMCC
- Reliance Industries (Middle East) DMCC
- Reliance Global Management Services Limited
- Reliance Commercial Associates Limited
- RIL (Australia) Pty Ltd
- Recron (Malaysia) Sdn Bhd
- Gulf African Petroleum Corporation (Mauritius)
- GAPCO Tanzania Limited
- GAPOil Tanzania Limited
- GAPCO Kenya Limited
- Transenergy Kenya Limited
- GAPCO Uganda Limited
- GAPCO Rwanda Sarl
- GAPOil (Zanzibar) Limited
- Reliance Fresh Limited
- Retail Concepts and Services (India) Limited
- Reliance Retail Insurance Broking Limited
- Reliance Dairy Foods Limited
- Reliance Retail Finance Limited
- RESQ Limited
- Reliancedigital Retail Limited
- Reliance Financial Distribution and Advisory Services Limited
- Reliance Hypermart Limited
- Reliance Retail Travel & Forex Services Limited
- Reliance Brands Limited
- Reliance Wellness Limited
- Reliance Footprint Limited
- Reliance Integrated Agri Solutions Limited
- Reliance Trends Limited
- Reliance Lifestyle Holdings Limited
- Reliance Universal Ventures Limited
- Reliance Autozone Limited
- Strategic Manpower Solutions Limited
- Reliance Gems and Jewels Limited
- Delight Proteins Limited
- Reliance F&B Services Limited
- Reliance Agri Products Distribution Limited
- Reliance Leisures Limited
- Reliance Retail Securities and Broking Company Limited
- Reliance Home Store Limited
- Reliance Trade Services Centre Limited
- Reliance Food Processing Solutions Limited
- Reliance Supply Chain Solutions Limited
- Reliance Loyalty and Analylitics Limited
- Reliance Digital Media Limited
- Reliance-GrandOptical Private Limited
- Reliance Vantage Retail Limited
- Reliance People Serve Limited
- Reliance Infrastructure Management Services Limited
- Reliance International Exploration and Production, Inc
- Reliance Petroinvestments Limited
- Reliance Universal Commercial Limited
- Reliance Global Commercial Limited
- Wave Land Developers Limited
- Reliance Cyprus Limited
- Reliance Global Business B.V.
- Reliance Global Energy Services Limited
- Reliance Gas Corporation Limited
- Reliance Global Energy Services (Singapore) Pte. Ltd
- Reliance Polymers (India) Limited
- Reliance Polyolefins Private Limited
- Reliance Aromatics & Petrochemicals Private Limited
- Reliance Energy and Project Development Private Limited
- Reliance Chemicals Private Limited
- Reliance Universal Enterprises Private Limited
- Reliance One Enterprises Limited
- Reliance Personal Electronics Limited
- International Oil Trading Limited
- Reliance Review Cinema Private Limited
- Reliance Replay Gaming Private Limited
- Reliance Nutritional Food Processors Private Limited
- Reliance Commercial Land & Infrastructure Private Limited
- Reliance Eminent Trading & Commercial Private Limited
- Reliance Progressive Traders Private Limited
- Reliance Prolific Traders Private Limited
- Reliance Universal Traders Private Limited
- Reliance Prolific Commercial Private Limited
- Reliance Comtrade Private Limited
- Reliance Ambit Trade Private Limited
- Reliance Corporate IT Park Limited
- Reliance Petro Marketing Private Limited
- LPG Infrastructure (India) Private Limited
- Reliance Infosolution Private Limited
- RIL USA Inc.
RIL’s Revenues for FY 2012-13 were Rs. 371,119 crore ($ 68.4 billion), Net Profit was Rs. 21,003 crore ($ 3.9 billion), Networth was Rs. 176,766 crore and Total Assets were Rs. 318,511 crore, unparalleled in the Indian Private Sector.
Exports for FY 2012-13 were Rs. 239,226 crore ($ 44.1 billion), 14% of India’s total exports.
RIL declared Dividend of 90%. Payout of Rs. 3,092 crore, one of the highest in the Indian Private Sector.
- During the year, RIL signed $ 4.5 billion equivalent facilities, backed by Export Credit Agencies, which included:
•RIL’s Revenues for FY 2011-12 were Rs. 339,792 crore ($ 66.8 billion), Net Profit was Rs. 20,040 crore ($ 3.9 billion), Networth was Rs. 166,096 crore and Total Assets were Rs. 295,140 crore, unparalleled in the Indian Private Sector.
•Exports for FY 2011-12 were Rs. 208,042 crore ($ 40.9 billion), 14% of India’s total exports.
•RIL declared Dividend of 85%. Payout of Rs. 2,941 crore, one of the highest in the Indian Private Sector.
•Reliance Holding USA Inc., a wholly-owned subsidiary of RIL raised $ 1.0 billion through the issuance of 5.4%, 10-year Guaranteed Senior Notes in February 2012.
2011 - Revenue crossed Rs. 2,50,000 crore mark (Rs. 2,58,651 crore, US$ 58.0 billion), Net Profit crossed Rs. 20,000 crore mark (Rs. 20,286 crore, US$ 4.5 billion) and Total Assets crossed Rs. 2,80,000 crore mark (Rs. 2,84,719 crore, US$ 63.8 billion), unparalleled in the Indian Private sector.
Exports crossed Rs. 1,40,000 crore mark (Rs. 1,46,667 crore, US$ 32.9 billion), 13.4% of India's total exports.
RIL declares Dividend of 80%. Payout of Rs 2,385 Crore, one of the highest in the Indian Private Sector.
2010 - Revenue crossed Rs. 2,00,000 crore mark (Rs. 2,00,400 crore, US$ 44.6 billion), Net Profit crossed Rs. 16,000 crore mark (Rs. 16,236 crore, US$ 3.6 billion) and Total Assets crossed Rs. 2,50,000 crore mark (Rs. 2,51,006 crore, US$ 55.9 billion), unparalleled in the Indian Private sector.
Exports crossed Rs. 1,00,000 crore mark (Rs. 1,10,176 crore, US$ 24.5 billion), 14.5% of India's total exports.
RIL declares Dividend of 70%. Payout of Rs 2,084 Crore, one of the highest in the Indian Private Sector.
2009 - Total Assets crossed Rs. 2,00,000 crore mark (Rs. 2,45,706 crore, US$ 48.44 billion), Networth crossed Rs. 1,00,000 crore mark (Rs. 1,26,373 crore, US$ 24.92 billion), unparalleled in the Indian Private sector.
RIL declares Dividend of 130%. Payout of Rs 1,897 Crore, one of the highest in the Indian Private Sector.
2008 - Revenue crossed Rs. 130,000 crore mark (Rs. 139,269 crore, US$ 34.7 billion), Net Profit crossed Rs. 15,000 crore mark (Rs. 19,458 crore, US$ 4.9 billion) and Total Assets crossed Rs. 140,000 crore mark (Rs. 149,839crore, US$ 37.3 billion), unparalleled in the Indian Private sector.
Exports crossed Rs. 80,000 crore mark (Rs. 83,492 crore, US$ 20.8 billion), 13.4% of India's total exports.
RIL declares Dividend of 130%. Payout of Rs 1,631 Crore, highest in the Indian Private Sector.
2007 - Revenue crossed Rs. 100,000 crore mark (Rs. 118,354 crore, US$ 27 billion), Net Profit crossed Rs. 10,000 crore mark (Rs. 11,943 crore, US$ 2.75 billion) and Total Assets crossed Rs. 100,000 crore mark (Rs. 117,353 crore, US$ 27 billion), unparalleled in the Indian Private sector.
Exports crossed Rs. 60,000 crore mark (Rs. 66,627 crore, US$ 15 billion), 12% of India's total exports.
RIL declares Dividend of 110%. Payout of Rs 1,440 Crore, highest in the Indian Private Sector.
2006 - RIL places $300 million in US Private Placement Market. First ever Indian company to raise money through this route.
RIL declares Dividend of 100%. Payout of Rs 1,393 Crore, Highest In Private Sector.
RPL a subsidary of RIL completes its US$ 1.2 billion Initial Public Offering of equity shares with an overwhelming response across different classes of investors. Chevron to Purchase 5% Stake in RPL for $300 Million. Option to Increase Stake to 29%.
2005 - Launches US $348 Million Syndicated Term Loan Facility. Aims To Replace Existing High Cost Loans.
Reliance Successfully Closes US$ 350 Million Multi Currency Term Loan.
2004 - Reliance signs EUR 116.2 million Export Credit Agency (ECA) backed Buyer's Credit Facility provided by Deutsche Bank. RIL avails an ECA cover for the first time in 22 years.
Reliance emerges as India's Greenest private sector company amongst the private sector with an overall rank of number two in a BT - ACNielsen ORG-MARG survey of shareholder perception published in Business Today's October issue.
Reliance Industries concludes re-pricing of $687.50 million Syndicated Term Loan facilities.
Reliance Group emerges as India's Largest Wealth Creator in the private sector for the Year 2003-04.
2003 - RIL - First Indian private sector company to record net profit of over Rs 4,000 crore in one financial year.
2002 - RIL - First Indian private sector company to record Net Profit of over Rs. 1,000 crores in one quarter.
Reliance among ten most creditworthy companies in Asia.
Reliance Completes Acquisition of IPCL.
2001 - RPL raises $750 million syndicated loan - deal named capital market deal of the year by IFR Asia.
Group revenues cross Rs. 60,000 crore (Rs. 60,160 crores), Reliance becomes largest business group in India.
RIL and RPL become India's two largest companies in terms of all major financial parameters.
2000 - Group profits cross Rs. 2,500 crore mark, Revenues cross Rs. 20,000 crore mark (Rs. 21,541 crores) and Total assets cross Rs. 50,000 crore (Rs. 52,094 crores).
1998 - Total Assets cross Rs. 35,000 crore (Rs. 35,445 crore) and Revenues cross Rs. 14,000 crore (Rs. 14,115 crore).
1997 - First corporate in Asia to issue 50 and 100 years bond in US debt market.
1996 - Reliance became the first private sector company to be rated by international credit rating agencies. S&P rated BB+, stable outlook, constrained by the Sovereign Ceiling. Moody's rated Baa3, Investment grade, constrained by the Sovereign Ceilings.
Net profit crossed the Rs.1,000 crore mark (Rs 1,065 crores or US$ 338 million), unparalleled in the Indian Private sector.
1994 - Offered the second Euro issue of GDR.
1993 - India's largest public offering - Reliance Petroleum Issue.
Offered the first Euro Convertible bond issue
1992 - Set a record with Reliance Twin issues that received over 1 million investor applications.
Offered the first ever Euro Issue of Global Depository Receipts by an Indian company
1991 - Reliance commissioned phase-I of Hazira Petrochemicals Complex - consolidated its position in polyesters and entered into attractive polymers business - started VCM and PVC plants.
1988 - Sales cross Rs. 1,000 crores mark (Sales for the year Rs. 1,778 crores).
1987 - Reliance commenced the Linear Alkyl Benzene (LAB) plant at Patalganga.
1986 - Reliance started PTA plant at Patalganga.
Reliance commissioned Polyester Staple Fibre (PSF) plant at Patalganga.
1985 - Total Assets cross Rs. 1,000 crores.
1977 - First IPO to the Indian Public.
Corporate Ranking and Ratings:
- RIL continues to be featured, for the sixth consecutive year, in the Fortune Global 500 list of the World's Largest Corporations, ranking for 2010 is as follows:Ranked 175 based on RevenuesRanked 100 based on Profits
- RIL is ranked 68th in 2010, in the Financial Times' FT Global 500 list of the world's largest companies (up from previous year's 75th rank).
- RIL has been ranked at 20th position, on the basis of sales, in the ICIS Top 100 Chemicals Companies list. RIL is the only Indian company in the world's Top 20 chemical companies in the global ranking. RIL has also been named as the 8th biggest gainer in the list in terms of operating profits.
- RIL is the only Indian company to get a perfect score from CLSA Asia-Pacific Markets (CLSA) in a list of Asia's best companies in terms of CSR and termed the Company as the region's 'Corporate Good Guy'. In its 'Ethical Asia' 2010 report, CLSA has named RIL among its top picks for providing very good data and going well beyond required disclosure.
- RIL is rated as the 33rd 'Most Innovative Company in the World' in a survey conducted by the US financial publication- Business Week in collaboration with the Boston Consulting Group (BCG). Further, in 2010, BCG has ranked RIL second amongst the world's 10 biggest, 'Sustainable Value Creators', companies for creating the most shareholder value for the period 2000 to 2009.
- E&P Division received the Petrotech-2010 Special Technical Award in the 'Project Management' category for completion of their Krishna Godavari Gas project aheadof schedule.
Health, Safety and Environment
- Allahabad Manufacturing Division received a rating of 90% for its environmental initiatives from British Safety Council in 2010.
- Barabanki Manufacturing Division received '5 Star Rating on BSC Environment' from British Safety Council in 2010.
- Dahej Manufacturing Division received 'Greentech Environment Excellence Award 2010 - Gold' for its excellence in environment practices from Greentech Foundation in 2010.
- Dahej Manufacturing Division received the 'National Award for the Prevention of Pollution in Petrochemicals Sector' for its excellence in environment practices from the Ministry of Environment & Forests, Government of India, in 2010.
- Dahej Manufacturing Division received 'Our Cup of Joy India's Best Practices on Water Confederation of Indian Industry (CII) October 2010' Award for the Best practice of water conservation of 'Utilizing Cooling Tower Blow Down water for Irrigation Purpose'.
- Hazira Manufacturing Division received the DuPont Safety Award for outstanding initiatives towards workplace safety enhancements and accident prevention in 2010, thus making RIL the first Indian / Asian company to win this award.
- Hazira Manufacturing Division received the British Safety Council's (BSC), Five Star Environment Award for its 'beyond compliance' initiatives, best environmental practices, innovations and resource conservation efforts in 2010.
- Hazira Manufacturing Division won the UK Energy Institute's Safety Award for 'Road Safety TRUST Programme' in 2010, making RIL the first Indian / Asian company to win this award.
- Hazira Manufacturing Division won the FGI Award for Excellence in Environmental Pollution Abatement and Preservation in 2010.
- Hazira Manufacturing Division won CII's Best Environmental Practice Award under 'Most Innovative Project' and 'Innovative Project' category in January 2011.
- Hoshiarpur Manufacturing Division, for four consecutive years in a row won the 'State Safety Award' from Punjab Industrial Safety Council & Chief Inspector of Factories, Punjab in 2011.
- Jamnagar Manufacturing Division Domestic Tariff Area (DTA) Refinery received the 'Golden Peacock Award for Occupational Health & Safety' for pace setting performance in OH and Safety in 2010.
- Jamnagar Manufacturing Division DTA Refinery received 'Safety Innovation Award' from Safety & Quality Forum of Institute of Engineers (India).
- Jamnagar Manufacturing Division DTA Refinery won the 'Greentech Platinum Award (2010)' Safety Category, in Petroleum Refinery Sector for its outstanding Achievement in Safety Management.
- Jamnagar Manufacturing Division has been granted by The National Accreditation Board for Laboratories (NABL), Ministry of Science & Technology; Government of India, 'NABL accreditation' based on ISO 15189: 2007 for the DAOH & FWC Medical Laboratory.
- Jamnagar Manufacturing Division Special Economic Zone (SEZ) Refinery received '5 Star Award for Health & Safety' from British Safety Council for sustained performance in Health & Safety in 2010.
- Jamnagar Manufacturing Division SEZ Refinery has won the prestigious 'Greentech Environment Excellence Award 2010' in Gold Category in Petroleum Refinery Sector for its best practices in Environment Management.
- Jamnagar Manufacturing Division SEZ Refinery has been selected as the winner of the '10th Annual Greentech Safety Award 2011', in Platinum Category in the Petroleum Refinery Sector.
- Nagothane Manufacturing Division received the 'Vana Shree Award' from the State Government of Maharashtra in 2010.
- Nagpur Manufacturing Division received the 'Sword of Honour' from the British Safety Council in 2010.
- Vadodara Manufacturing Division received the CII Environmental Best Practice Award in 2011.
Energy and Water Conservation / Efficiency:
- Hazira Manufacturing Division won the 'Excellent Energy Efficient Unit Award for FY 2009-10' from CII in 2010.
- Dahej Manufacturing Division bagged the 'Excellent Energy Efficient Unit Award 2010' for its energy conservation efforts from CII in 2010.
- Dahej Manufacturing Division received the 'National Energy Conservation Award 2010' for its energy conservation initiatives from the Ministry of Power, Government of India.
- Jamnagar Manufacturing Division received the 'National Award for Excellence in Energy Management' for its energy conservation techniques from CII in 2010.
- Jamnagar Manufacturing Division received the 'I.C.C. Award for Excellence in Energy Management' for its energy performance from the Indian Chemical Council in 2010.
Technology, Patents, R&D and Innovation:
- Nagpur Manufacturing Division received the 'Innovation Quest 2010 Trophy' instituted by the Indian Institution of Industrial Engineering.
- E&P's KG-D6 won the 'Innovation for India Awards 2010' instituted by the Marico Innovation Foundation for their combined synthesis of advanced technologies, extreme engineering, innovative execution, yielding unprecedented results and impact on India's energy security.
- Hazira Manufacturing Division won the 'Innovative Project' from the CII in 2010.
- Hazira Manufacturing Division won the FGI Federation of Gujarat Industries Award for technology development in 2010.
- Hazira Manufacturing Division won the Indian Chemical Council Award for chemical plant design and engineering in 2010.
- Reliance Technology Group (RTG) received 'Certificate of Merit' from the Federation of Gujarat Industries and 'ICC award for excellence in chemical plant design and engineering' in 2010.
- Reliance Footprint received the Retailer of the Year Award in the Non Apparel and Footwear category at Asia Retail Congress 2010.
- Reliance TimeOut received the Retailer of the Year Award in the Leisure Category at Asia Retail Congress 2010.
- Vision Express was bestowed the 'Award 2010' for its contribution by the Netherlands India Chamber of Commerce and Trade in 2010.
- Reliance Trends received the 'Retail Marketing Campaign of the Year Award' at the Asia Retail Congress 2010.
- Reliance Trends received the 'Impactful Retail Design and Visual Merchandising of the Year Award' at the Asia Retail Congress 2010
- Jamnagar Manufacturing Division won the 'Golden Peacock Global Award for Sustainability for the year 2010'.
•Reliance Jio and Bharti signed agreement under which Reliance Jio will utilize dedicated fiber pair on Bharti's i2i submarine cable that connects India and Singapore. The i2i cable system will provide Reliance Jio direct access and ultra-fast connectivity to major hubs across Asia Pacific.
•RIL and its partners announced a significant gas and condensate discovery (MJ-1 discovery) in the KG-D6 block off eastern coast of India.
•S&P upgraded the long-term corporate credit rating on Reliance to 'BBB+' from 'BBB', one of the highest ratings by S&P for an Indian corporate and the highest rating by S&P for an Indian Oil & Gas company. The new rating is two notches above the rating for the Indian sovereign.
•Reliance Jio and Reliance Communications signed agreement for sharing of RCom's nationwide telecom towers infrastructure.
•RIL-BP announced a new gas condensate discovery off the east coast of India in the deepwater block CY-DWN-2001/2 (CY-D5) in the Cauvery basin.
•Reliance Jio received Unified License for all 22 Service Areas across India and becomes the first telecom operator in the country to get pan India Unified License.
•Reliance Jio acquired spectrum in 14 key circles across India in the 1800 MHz band in the spectrum auction conducted by DoT, Government of India.
•RIL signed a US$ 2 billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India.
•The Global Reporting Initiative (GRI) awarded A+ level to RIL's Sustainability Report 2011-12. This is the seventh year in a row RIL has received highest application level on sustainability reporting. RIL is also the first company to adhere to the GRI 3.1 Oil & Gas Sector Supplement, released in February 2012.
•RIL and the Venezuelan state oil company, Petroleos de Venezuela, SA (PDVSA) signed a 15 year heavy crude oil supply contract and a Memorandum of Understanding (MoU) with PDVSA to further development of Venezuelan heavy oil fields. PDVSA will supply between 300,000 and 400,000 barrels per day of Venezuelan heavy crude oil to RIL's two refineries in Jamnagar under a 15-year crude oil supply contract.