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Mukesh Ambani's Jamnagar 'super' refinery completes 25 years, Reliance remains most valued domestic company

The 'super' refinery overnight turned India from a fuel deficit nation to a self-sufficient one and later into a surplus.

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Prashant Tamta

Updated : Dec 29, 2024, 07:37 PM IST

Mukesh Ambani's Jamnagar 'super' refinery completes 25 years, Reliance remains most valued domestic company

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Mukesh Ambani is the richest man in Asia and runs India's most valuable company, Reliance Industries. Today Reliance, a Rs 16.52 lakh crore market cap, has a presence in several sectors including FMCG and telecom. However, 25 years ago on December 28, 1999, Reliance launched its first refinery at Jamnagar, Gujarat.

The 'super' refinery overnight turned India from a fuel deficit nation to a self-sufficient one and later into a surplus, exporting gasoline and gasoil to Europe and the US. Today, Jamnagar has become the world's refining hub - an engineering marvel that is India's pride.

When Reliance first spoke of building an oil refinery to process and convert crude oil pumped out of the ground and from below the seabed, into fuels like petrol (gasoline) and diesel (gasoil), the majority of the experts had said that it would be impossible for an Indian company to set up the world's largest grassroots refinery in three years.

Today, Mukesh Ambani has a real-time net worth of USD 94.8 billion, as per Forbes. The billionaire has expanded Reliance into green energy. The company will be investing USD 80 billion over the next 10-15 years in renewable energy and building a new complex next to its refinery.

(With inputs from PTI)

READ | Meet woman, former WWE star whose husband is Indian-origin billionaire, she works as...

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