on Friday announced plans to restructure its engineering, procurement, and construction (EPC) business, by merging the undertaking with itself.

The EPC and infrastructure businesses, undertaken by Reliance Projects and Property Management Services, a wholly-owned subsidiary of RILare proposed to be merged into

the diversified conglomerate said in a statement.

The turnover of the EPC and infrastructure operations of Reliance Projects and Property Management for the financial year ended March 31, 2022, was Rs 43,071 crore.

There will be no cash or share swap involved in the proposed transaction as the undertaking being merged is of a wholly-owned subsidiary, RIL said.

The EPC business will implement RIL’s large projects across oil-to-chemicals (O2C), new energy business, and roll-out of 5G services.

Increasing infrastructure spending across geographies in oil and gas, chemicals, telecom and renewable energy sectors is expected to drive significant demand for EPC resources, the company said.


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By Dipak

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