RIL AGM 2022: Mukesh Ambani shares details about 5G, new energy plans

29 Aug 2022 , 03:35 PM

Addressing the 45th Annual General Meeting (AGM) of Reliance Industries on Monday, Chairman Mukesh Ambani has announced the much-anticipated Reliance Jio 5G network rollout during the Diwali season in the cities of Delhi, Mumbai, Chennai and Kolkata, adding by December 2023, Jio aims to bring 5G service all over India. Here are the key takeaways from his speech.

1. Jio standalone 5G to be rolled out in specific cities by Diwali, 2022, pan India by December 2023

2. Reliance has committed Rs2 lakh crore investment towards 5G 

3. Jio 5G will be the world’s largest and most advanced 5G network. Jio will deploy the latest version of 5G, called Stand-Alone 5G, which has zero dependencies on company’s 4G network

4. RIL’s media business achieved its highest growth momentum last year. Its national channels, CNN-News18, CNBC-TV18, and News18 India are consistently ranked Number 1.

5. RIL to progressively commence transition from Grey Hydrogen to Green Hydrogen by 2025, after proving its cost and performance targets

6. Company has inaugurated Phase I of its Bio-Energy Technology (BET) Centre at Jamnagar on August 15, 2022

7. RIL to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell to pack manufacturing facility by 2024, and further scale up to 50 GWh annual capacity by 2027

8. The company will invest Rs75,000 crore over the next 5 years in oil-to-chemicals operations

9. Akash and Isha have assumed leadership roles in Jio and Retail respectively. Anant has also joined RIL’s New Energy business.

Other highlights of the AGM include:

* 5G provides ultra-high fibre-like speed over the air without any wires. RIL is calling it #JioAirFiber. With JioAirFiber, it will be really easy to quickly connect your home or workplace to Gigabit-speed Internet: Akash Ambani.

* Reliance launches Jio Cloud PC – that will bridge the digital divide bringing “virtual PC” leveraging Jio AIR FIBER (5G FWA) to the masses. Using JioAirFiber, customers can opt to use a virtual PC – Jio Cloud PC: Kiran Thomas, President, RIL.

* Isha Ambani said that the JioMart and WhatsApp partnership will aid growth. JioMart-Whatsapp users can use Whatsapp pay, cash on delivery and other payment methods

* With 5G being rolled out in India, the current 800 million connected internet devices will double to 1.5 billion connected internet devices in just a year, says Akash Ambani.

* Announced alliance with Qualcomm which is a significant development for semiconductor manufacturing in India.

* RIL’s Entertainment arm, Viacom18 consolidated its leadership position with a high-decibel entry into Sports segment, bagging digital rights of IPL for 5 years. Viacom18 is also aggressively investing in movie rights and original content for OTT platform

On Monday, the stock of Reliance Industries Ltd ended at Rs2,596.0 per share lower by 0.84% on the BSE.

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