Reliance Industries Ltd.

Reliance Industries (RIL) through a wholly owned subsidiary has entered into a Memorandum of Understanding (MoU) with NMSEZ to sub-lease land of about 4000 acres along with the associated development rights by making an initial payment of Rs 2,180 crore.

NMSEZ, as part of a tender process was allotted this land in 2006 to develop a world class SEZ. NMSEZ is owned 26% by CIDCO and 74% by other investors. The promoter group of RIL has indirect interest in NMSEZ.

The company has entered into a Memorandum of Understanding with the government of Maharashtra to develop a Global Economic Hub consisting of world class integrated digital and services industrial area with global partnerships.

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.