Reliance Industries to raise $3bn debts aboard

Monday, 26 February 2007, 06:00 Hrs
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Mumbai: Reliance Industries Ltd (RIL), India's largest private company, plans to raise $2 billion debts from abroad to fund its oil and natural gas projects, the company's board of directors have announced.

The RIL board, which met on Saturday, also approved 120 million preferential warrants to promoters and to set up one of the country's largest integrated cracker and petrochemical projects at the cost of $3 billion at Jamnagar in Gujarat.

The company's board also decided to appoint R.A. Mashelkar, former head of the government's Council for Scientific and Industrial Research, as a director of the RIL board.
Source: IANS
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