Billionaire Mukesh Ambani's Reliance Industries Ltd has a 15-year vision to build itself as a new energy company that aims to recycle CO2, create value from plastic waste and has an optimal mix of clean and affordable energy, analysts said.
While the oil-to-chemical conglomerate has in recent times seen focus on consumer business, RIL's core oil-to-chemical (O2C) business is well placed to generate sustained free cash flow, BofA Securities said in a report.
"Until demand normalizes, RIL is looking to maximize throughput, focus on cost by leveraging deep petrochemical integration and continue to focus on domestic fuel marketing," it said.
"RIL has a 15-year vision to build itself as one of the world's leading new energy and new material companies. It also intends to be a net carbon zero company by 2035. To achieve this, the company is open to work with global financial investors, reputed technology partners and start-ups working on futuristic solutions," it said.
This new energy business based on the principle of carbon recycling and circular economy is a multi-trillion opportunity for India and the world.
