Reliance Industries to consider raising resources for capex

Reliance Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on February 24, 2007, inter alia, to review the decision taken by the Board of Directors at its meeting held on November 09, 2006 to raise US $ 2 Billion to finance capital expenditure plan in the Oil and Gas Exploration and Production Business and to discuss raising of further resources to finance the on-going capital expenditure across several new projects through Syndicate Loans, Non-convertible Debentures, Convertible Debentures, External Commercial Borrowings, Foreign Currency Convertible Bonds, Preference Shares, Warrants or any other instruments.

Source : Equity Bulls

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