Reliance Industries Limited (RIL) has decided to change it course of function in
order to transform its existing business structure into a process-driven unit. This Mukesh Ambani run monolith has big plans for transformation; an ambitious two-year plan to overhaul the global image of the textiles-to-oil conglomerate to be concluded by FY 2012.
Reliance Industries has been Indias largest private sector enterprise for many years now and it was time this mega giant altered its course of action to match changing work structures of the world. Reliance hopes to renovate its existing processes into those similar to Exxon Mobil and Shell. For this project, it has engaged AT Kearney and Booz & Co.
Last month, Mukesh Ambani had mentioned to his employees about his plans to accelerate the process of business transformation so as to run in tune with Reliances many capital projects. To initiate the task of renovation Reliance Industries has re-ignited talks with British Petroleum (BP) for a possible stake sale in RIL's Indian E&P assets. Furthermore, RIL has plans to build a Liquefied Natural Gas (LNG) terminal on either the east coast or the west coast besides expansion of its existing refinery and petrochemical facilities in an effort to meet the increasing demand at its refinery plants. RIL has two world class refineries at Jamnagar in Gujarat with a combined capacity of 1.24 million barrels per day. It plans to invest $ 1.2 billion in these plants to reduce the operational cost it incurs as a result of purchasing one LNG cargo a month from Royal Dutch Shell at prices that are in double digits.
Reliance has had a successful run in the year 2010. This year onwards Mukesh Ambani plans to take his company forward in terms of capital generation, profitability, global standards, world-class infrastructure, down streamed processes and tangible value generation. Mukesh Ambani had expressed his aspiration to expand Reliances philanthropic arm into global education sector earlier last year. For this, he has acquired a substantial support from world-renowned institutions in terms of process and their intellectual support.