Reliance Industries Ltd’s Board on Wednesday decided to implement a ‘Scheme of Arrangement’ to transfer the ‘Gasification’ undertaking into a wholly-owned subsidiary.
“RIL targets to have a portfolio which is fully re-cyclable, sustainable and net carbon zero. This will be achieved by transitioning to high value materials and chemicals with renewables as the source of meeting its energy requirements,” the company said in a statement.
“As RIL progressively transitions to renewables as its primary source of energy, more ‘syngas’ will become available for upgradation to high value chemicals including ‘C1 chemicals and hydrogen’.”
Further, the company said that the carbon dioxide released during the process of producing ‘Hydrogen’ is highly concentrated and easy to capture, substantially reducing the cost of carbon capture.
“Overall, these steps will help sharply reduce carbon footprint of Jamnagar complex.” “India is a high growth market and is expected to continue to see a deficit of these high value chemicals in the foreseeable future.”