Mukesh Ambani’s next plan
Asia’s richest businessman Mukesh Ambani and the country’s largest company Reliance Industries will soon start their first ‘dream factory’. You are wondering what is Mukesh Ambani’s dream factory which will start soon. Let us tell you that Mukesh Ambani and his company Reliance Industries Limited are planning to start their first solar gigafactory in the current fiscal year. The company is moving towards achieving the target of net zero carbon emissions from its operations by 2035.
What is the plan?
Reliance has said in its annual report that it aims to commission the first phase of solar photovoltaic (PV) manufacturing plants by the end of fiscal 2024-25 and scale it up to 20 GW in a phased manner by 2026. The solar gigafactory will manufacture PV modules, cells, wafers and ingots, polysilicon and glass at a single location. The company also aims to industrialise sodium-ion cell production at megawatt level by 2025 and produce 50 megawatt hours (MWh) per year of lithium battery cells for the first time by 2026.
Ambani had announced in 2021
Reliance announced in 2021 that it would invest $10 billion over three years to build a new fuels business based on 100 gigawatts of renewable energy capacity by 2030. Under this plan, four gigafactories will be set up in Jamnagar, Gujarat, for manufacturing renewable energy equipment, battery storage, fuel cells and hydrogen. Reliance Industries said in its annual report that we have made significant progress in setting up factories that will be part of our integrated solar PV manufacturing.
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Company shares fall
If we talk about the last week, there has been a fall of more than one and a half percent in the shares of Reliance Industries. What is special is that on Friday the shares of the company closed at Rs 2,948.30 with an increase of 1.82 percent i.e. Rs 52.80. If we talk about market capitalization, among the top 10 companies in the country, Reliance Industries has suffered the highest loss of Rs 33,930.56 crore. At present, the market capitalization of the company has fallen below Rs 20 lakh crore. According to BSE data, the market capitalization of the company has become Rs 19,94,765.01 crore.
