Reliance seeks $2 billion loan for expansion plans
ECONOMY & POLICY

Reliance seeks $2 billion loan for expansion plans

Reliance Industries is currently engaged in discussions with lenders regarding a potential foreign-currency loan amounting to $2 billion. The purpose of this loan is to support the ongoing expansion of Reliance's diverse business portfolio, which encompasses oil and telecoms operations. To secure the loan, the company intends to utilise India's designated external commercial borrowing pathway.

According to an insider, the loan facility is anticipated to have a maturity period ranging from three to five years. The funds acquired through this loan will serve two primary purposes: funding capital expenditure and refinancing an existing loan that is set to mature in September.

Prominent financial institutions such as Bank of America Corp., Citigroup Inc., and Standard Chartered Plc are reportedly involved in these discussions. However, when approached for comments, spokespeople for these banks declined to provide any statements. A representative from Reliance stated that they are currently unable to offer an immediate comment.

Mukesh Ambani, the driving force behind Reliance, is seeking to raise funds as part of his ongoing efforts to expand the company's telecoms and consumer-facing divisions. Reliance's success in achieving a net debt zero status in 2020 has enabled the company to fuel its expansion endeavors through substantial borrowing.

Reliance has publicly announced its intention to invest $75 billion in renewable energy over a span of 15 years. Furthermore, the company made headlines last year with its acquisition of the highly sought-after $3 billion streaming rights for the Indian Premier League cricket tournament. Additionally, Reliance is actively rolling out 5G network services across the South Asian nation, with an estimated cost of $25 billion.

Reliance Industries is currently engaged in discussions with lenders regarding a potential foreign-currency loan amounting to $2 billion. The purpose of this loan is to support the ongoing expansion of Reliance's diverse business portfolio, which encompasses oil and telecoms operations. To secure the loan, the company intends to utilise India's designated external commercial borrowing pathway.According to an insider, the loan facility is anticipated to have a maturity period ranging from three to five years. The funds acquired through this loan will serve two primary purposes: funding capital expenditure and refinancing an existing loan that is set to mature in September.Prominent financial institutions such as Bank of America Corp., Citigroup Inc., and Standard Chartered Plc are reportedly involved in these discussions. However, when approached for comments, spokespeople for these banks declined to provide any statements. A representative from Reliance stated that they are currently unable to offer an immediate comment.Mukesh Ambani, the driving force behind Reliance, is seeking to raise funds as part of his ongoing efforts to expand the company's telecoms and consumer-facing divisions. Reliance's success in achieving a net debt zero status in 2020 has enabled the company to fuel its expansion endeavors through substantial borrowing.Reliance has publicly announced its intention to invest $75 billion in renewable energy over a span of 15 years. Furthermore, the company made headlines last year with its acquisition of the highly sought-after $3 billion streaming rights for the Indian Premier League cricket tournament. Additionally, Reliance is actively rolling out 5G network services across the South Asian nation, with an estimated cost of $25 billion.

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?