Reliance Industries Ltd (RIL) has announced plans to invest Rs 75,000 crore in its oil-to-chemicals (O2C) business, even as it doubles down on renewables with a target of 20 GW solar module capacity by 2026.

Chairman Mukesh Ambani outlined the investment strategy during the company’s annual meeting, emphasizing that RIL will simultaneously strengthen its legacy petrochemicals business while becoming a leader in clean energy. 

“The O2C business will remain a key growth engine for Reliance. At the same time, our focus on solar manufacturing will make India self-reliant in renewable energy hardware,” Ambani said.

The investment in O2C will focus on expanding downstream petrochemicals, advanced materials, and specialty chemicals, with an eye on global export markets. 

Analysts believe this will help Reliance capture higher margins amid rising global demand for plastics and advanced materials.