RIL Board on Wednesday approved giving one free share for every share held, upon completion of a mega refinery at Jamnagar in Gujarat and KG basin oil and gas field development.
“It was a Reliance commitment, whenever we finish a value creation cycle, we make sure that everybody is awarded,” he told CNBC TV-18 business channel.
The company built a 580,000 barrels per day refinery at a cost of $6 billion to make Jamnagar the world’s largest refining hub.
It invested an equal amount in beginning production of natural gas from KG-D6 fields in record time.
Together with a $4 billion pipeline for transporting gas to consumption centres, the group had invested over Rs 100,000 crore in three to four years.
Press Trust of India
Published 08 October 2009, 15:34 IST