The Reliance Industries Limited (“RIL”) Board of Directors today approved a scheme of arrangement under which Reliance Projects and Property Management Services Limited (“RPPMSL”), a wholly-owned subsidiary of RIL, is proposed to be demerged into RIL. Together with the existing EPC team in RIL, this demerger creates a focused EPC undertaking in RIL to meet the needs of the group.
RIL’s current EPC resources are dispersed across multiple operating entities. RIL employs 4,000 engineers with proven expertise in engineering, procurement, project management, and construction. RPPMSL also employs 20,000 professionals.
The focused EPC Undertaking will pool and synergize the group’s engineering capabilities and expertise. The EPC project will be critical in implementing RIL’s large projects in O2C, New Energy, and 5G roll-out. These megaprojects will necessitate a significant mobilisation of global technology and EPC resources. Increased infrastructure spending in the oil and gas, chemicals, telecommunications, and renewable energy sectors is expected to drive significant demand for EPC resources.
By establishing EPC Centres of Excellence in strategic offshore locations, the new EPC Undertaking will facilitate internationalisation. It will work with RIL’s existing subsidiaries in the United States and Dubai. It will also establish new subsidiaries in Singapore and the United Kingdom. These subsidiaries will allow for the more rapid mobilisation of high-quality talent and EPC.
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