For the intended gasification project, Reliance Industries has selected Phillips 66’s (NYSE: PSX) E-Gas™ Technology, which Phillips will license to RIL shortly. Phillips 66 has also agreed to provide process engineering design and technical support related to the gasification technology process area, as per the official statement released by RIL.

The latest RIL project will see the energy giant set up gasification plants at Jamnagar – the hub of its refining functions. The new plants will process petroleum coke and coal into synthesis gas by making use of the Phillips 66’s E-Gas™ Technology.Thesynthesis gas thus produced will be used to fuel the new chemical complex and as well as the refinery’s existing gas turbine power generation units.

Phillips 66, a leader in gasification technology,is best known for its E-Gas Technology which is claimed to be the cleanest, most efficient commercial process for converting coal or petroleum coke into a hydrogen-rich synthesis gas, ideal for power, refining and chemical based applications.Pegged as the most secure and effective way to produce clean substitute natural gas, E-Gas Technology (now in its 25th year of commercial use) incorporates a unique gasification system design that can be applied with gas and steam turbine combined-cycle power generation to produce electric power, as well as synthesis gas applications for the production of hydrogen, chemicals or substitute natural gas in highly flexible combinations. For offering high system efficiencies, minimum water consumption and perceptibly low emissions, E-Gas Technology by Phillips 66 was a clear choice for RIL’s latest gasification project.

Earlier in 2010, RIL had announced major plans to expand the world’s biggest refining complex it runs in Jamnagar, hinting at big investments for the same in the upcoming years. Coke gasification was one among the top priorities that RIL had noted in its earlier announcement. Taking the aspiration to realization, RIL has finally set the ball rolling for its proposed petrochemical expansion projects.

She fondly recollects the day when her mother told her that they could be best friends. Since then, she has always felt free to reveal her deepest secrets to her mother without worrying about being judged. Right from the day when she used to put her mom’s name first on the birthday party list, she has been able to enjoy the most with her mother. She has been able to confide in her mom who has always stood by her and shown her the right path.

Isha Ambani also considers her mom to be her source of inspiration. Teasing her mom for being obsessed about her and the family, she mentions how her mom always takes out time for family irrespective of her busy schedule. Apart from being an amazing mother, she loves her mom for the unbelievable strength and energy that she portrays. She admires the way her mother pulls off all her responsibilities remarkably.

Expressing her unconditional love for her mother, she mentions how she could not agree less when someone told her that mothers were created, as God could not individually take care of everybody.

She also mentions how they love to catch up with each other and indulge in never- ending conversations. The mother- daughter duo love shopping together as both of them are dependent on each other during decision-making. She also considers her mother to be her soul mate for the way she knows and understands her profoundly.

Isha Ambani is the eldest kid, born a second before Akash Ambani. She is a student of psychology and Asian study from Yale University. She is an amazing painter and a firm believer of women’s power.

Like Mother, Like Daughter.

Infotel Broadband had invited bids earlier this year from tower operators for leasing around 26,000 towers across India for the first phase of its wireless broadband foray. But those plans are on hold, and according to three people familiar with the development, the company has sought quotes and samples from equipment vendors for carbon fibre telecom towers.

The estimated outlay for the company’s launch, which is expected later this year or early next year, has been nearly doubled to $8-9 billion, from the originally stated $4 billion in 2010, said one of the three persons.

A Reliance Industries official, who asked not to be named, said the company may partly use its own towers while it may rent the rest from existing tower companies. But if Infotel Broadband does meet its target of building 1,00,000 towers, there might not be any need for it to rent further capacity. Indus Towers, the country’s largest tower company, owns around 1,10,000 telecom towers.

Infotel Broadband, 95%-owned by RIL, has all along been expected to lease towers from Reliance Infratel for its 4G rollout. The lease was to mark the first major collaboration between companies owned by the Ambani siblings after they carved out the Reliance empire between themselves in 2005. It was also supposed to boost the valuations of both Reliance Infratel and Reliance Communications, the company that owns a 95% stake in the tower unit.

Reliance Communications has been looking for an equity partner for the tower arm for some years now. Reliance Communication’s net debt at the end of third quarter of 2011-12 stood at Rs 36,700 crore. Emails sent to both RIL and Reliance Communications went unanswered.

In May 2010, the Ambani brothers terminated a non-compete agreement that had been in place for five years, paving the way for RIL’s re-entry into telecom. Subsequently, Reliance Industries bought 95% stake in Infotel Broadband for Rs 4,800 crore, in addition to paying Rs 12,848 crore for 20 MHz of spectrum in all 22 service areas in India – the only company to do so.

The who’s who of the city attended the event. Amongst those spotted there were Sunil Gavaskar, Ravi Shastri, Virat Kohli, Harbhajan Singh with Geeta Basra, Virendra Sehwag, Aamir Khan and wife Kiran Rao, Hrithik and Sussanne Roshan, Abhishek and Aishwarya Rai Bachchan, Lata Mangeshkar, Raju Hirani, Vidhu Vinod Chopra, Preity Zinta, Shatrughan and Poonam Sinha with daughter Sonakshi, Riteish and Genelia Deshmukh, Raveena Tandon and Anil Thadani, Ekta Kapoor, Raj Thackeray, Vijay Mallya, Praful Patel,Vilasrao Deshmukh, Prithviraj Chavan, Murli and Hema Deora, Milind and Pooja Deora, Rohit Bal, Abu Jani and Sandeep Khosla, Subrata Roy, Parmeshwar and Adi Godrej and the Khan family along with Karisma Kapur.

Invitees enjoyed champagne and the finest cuisine at the rooftop. Later, the gathering shifted to the grand ballroom in the lower level, where the Ambanis had put together an awards function of their own- dedicated to one man alone. Pritam opened the show, premiering a song dedicated to Sachin from the film Ferrari Ki Sawari. Nita then welcomed the guests and spoke of how proud Sachin made all Indians feel, before handing over the microphone to Priyanka Chopra, who played emcee for the evening honouring the legend.

PC then took to the audience, speaking to various guests and Abhishek Bachchan quipped about how all his fans, who wore the same clothes and sat glued to the TV when Sachin played, had a role to play in scoring his 100th hundred.

Television journalist Rajat Sharma won a personally autographed bat by Sachin in a surprise game of passing the parcel. Finally, it was Salman Khan’s time to take to the stage. The actor turned on his rakish charm to the max, leaving the audience in splits with his unrehearsed speech and jokes.

While Reliance Industries will hold 74.9 per cent share in the JV, Sibur will account for the remaining 25.1 per cent. A facility for the JV will be commissioned by mid-2014, and is expected to call for an investment of approximately US$ 450 million. Nikhil Meswani, Executive Director of Relaince Industries Limited said, “The joint venture company is expected to post a revenue of INR23 billion to INR25 billion ($463 million-$503 million) in the first year itself and we are putting up this at the Jamnagar plant because of the ready availability of feedstock.” RIL and Sibur have also signed a licensing agreement whereby Sibur’s proprietary butyl production technology will be accessible to the JV. Sibur, it is expected, will develop basic engineering designs for the facility and will also train the JV’s personnel at its production site in Togliatti, Russia.

RIL is one of the largest producers of polymers in world. Its partner, Sibur, is known to have one of the most refined and high-end petrochemical process chains, including gas processing, production of monomers, plastics and synthetic rubbers to the processing of plastics. Collaborating with Sibur is a reflection on RIL’s part to make way for developing domestic capabilities in meeting demands for products like butyl rubber.

Given the rise in demand for butyl rubber, particularly from India’s automotive sector, the RIL-Sibur JV comes as a major boon for meeting domestic demand for the product. India’s automobile sector is one of the fastest growing sectors in the country. With rampant rise in production of two-wheelers, three-wheelers and four wheelers, the prospects of India becoming the hub of automotive sector are very promising. At present, India’s automotive industry requires 75, 000 tonnes of butyl rubber every year, a requirement presently being satisfied by imports. Following institution of RIL-Sibur joint venture, the demand for butyl rubber could be met domestically, with possibilities of export opportunities as well.

Reliance would be utilizing Rs. 10,440 crore out of their Rs. 75, 000 crore cash balance. A buyback is a good strategy to boost investor confidence in the company in increase its stock price.

The buyback may also increase the company’s Earnings per Share (EPS), because of the effect that it has on the number of share (a buyback of share reduces the number of shares outstanding).
Ballabh Modani and Nitin Tiwari, of Religare Capital Markets, say “In our view, the buyback will act as a catalyst for the stock as, of late, the market has been concerned over cash deployment, with RIL turning in to net debt-free company.”
The buyback would be triggered through an open-market, which is a prudent option to remain tax-efficient. Reliance would also have the upper-hand of enjoying capital gains if it takes the open-market route instead of routing the decision through tender offers. Rahul Saraf, Director, Citigroup Global Markets, India, says “It (buyback through stock exchanges) is a tax-efficient way to return capital to existing shareholders as the buyback, if done via open market purchase on the floor of the stock exchange.”
According to The Times of India, “SEBI rules stipulate that, provided the stock price remains below Rs.870, the maximum offer price, Reliance Industries has to buyback at least 25% of its planned 12 crore shares under the plan.”

In May 2010, a non-compete agreement was terminated by the Ambani brothers which restricted RIL’s entry into telecom. After the cessation of the agreement that was in place for five years, India’s largest private sector company bought licences for nationwide wireless broadband services. The one-of-its-kind deal was worth Rs 13,000 crore.

Earlier this year, RIL had asked various telecom tower operators to lease around 26,000 towers for the first stage of its wireless broadband venture. Majority of the infrastructure is sourced from Reliance Communications or RCOM which is a part of Reliance ADA Group. According to the sources, RCOM’s bid was probable to be favoured over the bids of two independent tower firms. They also added that RIL will not invest any equity in RCOM during this deal.

There have been various speculations claiming that RIL would buy into RCOM but no official confirmation came on the issue. On being asked about the deal, spokesmen of both the companies declined to comment. One of the source stated that no decision had been taken on the issue. RIL has issued a tender and all tower and fibre companies had given their quotes. The company has not yet announced anything.

RIL will also use Reliance Communications’ transmission facilities and optic fibre network apart from the towers. The deal will allow RIL to access 50,000 towers of RCom spread across 1,500 cities and towns in the country.