Mukesh Ambani speaks at RIL's 39th annual general meeting: highlights

Reliance Industries plans to invest Rs 1.5 lakh crore in its businesses over three years, chairman Mukesh Ambani said at the company's annual general meeting in Mumbai today (read story).

Addressing the shareholders, Mr. Ambani said this would be the largest investment in the country by any company, public or private, Indian or foreign.

Here are the highlights of Mr. Ambani's speech:

• RIL is making the investment at a time when the global economy is facing tough times
• Reliance is the largest income tax payer in the country among private sector companies
• Reliance continues to be debt free on a net basis
• RIL achieved highest ever exports in the last fiscal
• RIL continues to be India's largest exporter accounting for 14 per cent exports from India
• Highest tax payer in the private sector in the company (4.8% of India's total indirect tax revenues)
• RIL is the only Asian company in the oil and gas sector to enjoy a rating two notches above the sovereign rating (S&P)
• Reliance Industries' refinery at Jamnagar has been counted amongst the world's top five manufacturing units. RIL resolves to be among the top three refiners in the world.
• The new discovery at KG-D6 will significantly add to our resource base. This discovery is a testimony to the combined skills of BP and RIL. It is located 2 km from currently producing D1 and D3 gas fields and has exhibited very good results in test. There are more prospects lined up over the next few quarters (read).
• The retail business has accomplished a significant milestone by crossing Rs 10,000 crore in the last financial year. It has achieved cash break even with an EBITDA of Rs 78 crore. To achieve Rs 40,000 to Rs 50,000 crore over the next few years.
• RIL aiming to begin producing from Sohagpur CBM blocks in Madhya Pradesh in 2015.
• Reliance will more than triple headcount at Jio Infocomm (read)