Archive for February, 2012

Arnab Bagchi spotted at Reliance Digital, Ahmedabad? Help Vidya find her missing husband..

February 29, 2012

Arnab Bagchi – male, 31 years old, Bengali-origin – has gone missing from Kolkata. His wife, Vidya Bagchi, seven months pregnant, has been searching for her lost husband all over the country and her relentless search has now found a ray of hope in the city of Ahmedabad. Determined to unravel the truth about her husband’s sudden disappearance, Vidya now hopes to find answers to her questions in Ahmedabad and anyone who can help with any information can meet Vidya at Reliance Digital’s Pachwati store in Ahmedabad today at 4: 30 p.m.

Vidya Bagchi, played by, Vidya Balan is the lead protagonist of the upcoming Bollywood movie ‘Kahaani’, a story of a wife, seven month pregnant, looking for her missing husband in the bustling city of Kolkata. With nothing and no one to rely on except fragments of her memories about her husband, everything, every clue, seems to point to a dead end; to a point where everyone begins to doubt if Vidya’s husband actually exists or not. She slowly realizes that reality is not what it seems and there is more to the incident than meets the eye. Surrounded by lies and betrayal, Vidya is determined to get to the truth about her husband – for herself and for their unborn child – even at the cost of her own life.

Scheduled for release on 9th of March, Vidya Balan has been promoting her 5th female-oriented film across the country, by looking to find her husband din each city. Her next port of calling is the city of Ahmedabad, where Vidya Balan, in the character of Vidya Bagchi, will seek to find her husband with the help from people in the bustling metropolis. She will present at Reliance Digital’s Panchwati store in Ahmedabad today, 29th February, from 4: 30 p.m. onwards.

Reliance–BP deal wins Euromoney Deals of the year 2011 award

February 15, 2012

The eventual realization of the deal between Mukesh Ambani-owned Reliance Industries Limited (RIL) and Robert Dudley-led London based energy giant BP Plc. was recently acknowledged by the UK based business and finance publication Euromoney as one of the winners of Euromoney Deals of the year 2011 award.

The $9 billion deal, which caught global attention for its sheer scale and scope, was one of the most talked about and scrutinized deals of 2011. It saw the coming together two of the most powerful energy-based companies in the form of a mutually beneficial partnership across the full value chain that made headlines across the world. This deal involves BP taking a 30 per cent stake in 23 oil & gas production sharing contracts, that Reliance operates in India, including the active KG D6 block (one of RIL’s many major undertakings) and the formation of a 50:50 joint venture between the two companies for the sourcing and marketing of gas in India. The joint venture will also endeavour to accelerate the creation of infrastructure for receiving, transporting and marketing of natural gas in India, as indicated in respective company statements regarding the deal. BP has paid Reliance Industries Limited an aggregate consideration of US$7.2 billion and future performance payments of up to US $1.8 billion with respect to development of commercial discoveries.

The deal has been monumental for many reasons. For one, the transaction has resulted in one of the largest foreign direct investments (FDI) into India. The partnership, spanning across 27,000 sq.km of acreage, is India’s largest private sector holder of exploration acreage. While RIL has been able to gain access to the cutting energy exploration technologies by BP, the latter now holds a key to explore the prolific opportunities that lie in energy rich regions of the country. Consequently, by combining RIL’s exemplary management skills with BP’s sophisticated technological skill sets, the Reliance-BP deal will be seen harnessing energy resources of India in possibly the most sustainable way, including energy development prospects in Reliance KG D6 fields.

On a more sentimental level, this deal has shored up the reputation of both signing partners. For BP, this deal has bleached out just about every stain that mottled BP’s reputation following the Gulf of Mexico spill. At the same time, RIL was able to silence the many voices that questioned its capabilities as an erudite player in the Indian energy sector.

RIL acquires US $400 million loan for ambitious petrochemicals project

February 3, 2012

Taking one more step towards realizing its global ambitions, Mukesh Ambani-led Reliance Industries Limited (RIL) has cited plans for expanding its Jamnagar facility so as to double its petrochemicals production within the coming years. The Jamnagar phase three expansion project, popularly called as the J-3 mega petrochemicals project, is the latest of the ambitious plans RIL has in store as it looks at advancing its position in the global market. In order to fulfil this ambition, Reliance Industries has approached Italy based insurance and finance group SACE Spa, which has guaranteed a US$ 400 million equivalent loan for the expansion and upgrading of the production capacity of its petrochemical plants.

The expansion plans for Jamnagar facility approximate an investment of US $11 billion. The announcement of this latest undertaking was made at the signing ceremony hosted at SACE’s Headquarters in Rome, Italy. Commenting on the occasion was the CEO of SACE, Alessandro Castellano, who said, “SACE’s guarantee is both a relevant growth catalyst and an important leverage for the competitiveness of Italian exporters, along with quality and price of products. The deal confirms our partnership with a key global player like Reliance Industries and paves the way for a further promotion of trade-related business between Indian and Italian companies, particularly the large number of small and medium-sized enterprises operating in the country.”This deal is the 4thconcluded with Reliance Industries since 2004 and brings to US$1 billion the overall credit facilities backed by SACE for the conglomerate.

The mega-ambitious project will look at setting up of petrochemical units, a gasification plant and refinery off-gas cracker, among others. On realization, this project is likely to fire Reliance’s production graphs and position the conglomerate in an advantageous position. Additionally, SACE will continue its role as the business facilitator in India by making its way into the Indian subcontinent to regulate operations in South Asia.

This deal comes through soon after RIL noted its plans for buying back equity shares to shore up its Share prices. Now termed as the largest every buyback plan in Indian corporate history, RIL’s plans is signalling promise to its shareholders and investors of the fact that the company is will go lengths to retain the integrity of its share price which makes the company India’s most valuable.