MoneyWorks4Me

Government allots project worth Rs 2,836 crore to Reliance Industries’ telecom arm

31 May 2022 Evaluate

The government has allocated project worth Rs 2,836 crore to Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) for providing 4G mobile services in uncovered villages of aspirational districts. Reliance Jio will roll out 3,696 towers for Rs 2,836 crore. The project would be funded by Universal Service Obligation Fund (USOF) and is likely to be completed by November 2023.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Peers
Company Name CMP
Reliance Industries 1236.00
Indian Oil Corpn. 132.20
Bharat PetroleumCorp 299.00
HPCL 345.15
MRPL 166.95
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