Reliance Infrastructure

Last updated

Reliance Infrastructure Limited
Formerly
  • Bombay Suburban Electric Supply Limited (1929–1992)
  • BSES Limited (1992–2004)
  • Reliance Energy Limited (2004–2008)
Company type Public
Industry
PredecessorBombay Suburban Electric Supply Limited
Founded1 October 1929;94 years ago (1929-10-01) as Bombay Suburban Electric Supply Limited
Headquarters DAKC, ,
Key people
Products
  • Electrical power
  • natural gas
  • defence
  • infrastructure
  • transport
Services
RevenueDecrease2.svg19,132.55 crore (US$2.4 billion) (2022)
Decrease2.svg138.42 crore (US$17 million) (2022)
Decrease2.svg−807.70 crore (US$−100 million) (2022)
Total assets Increase2.svg62,689.23 crore (US$7.9 billion) (2022)
Total equity Increase2.svg16,491 crore (US$2.1 billion) (2022)
Number of employees
5,400+ (2021)
Parent Reliance Anil Dhirubhai Ambani Group
Website www.rinfra.com OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
[1] [2]

Reliance Infrastructure Limited (R-Infra), formerly Reliance Energy Limited (REL) and Bombay Suburban Electric Supply (BSES), is an Indian private sector enterprise involved in power generation, infrastructure, construction and defence. [3] It is part of the Reliance Anil Dhirubhai Ambani Group. The company is headed by its chairman, Anil Ambani, and chief executive officer, Punit Narendra Garg (since 6 April 2019). The corporate headquarters is in Navi Mumbai. [4] Reliance Infrastructure's interests are in the fields of power plants, metro rail, airports, bridges, toll roads, and defence. It is a major shareholder in the other group company, Reliance Power and Reliance Naval and Engineering Limited.

Contents

In Fortune India 500 list of 2019, Reliance Infrastructure was ranked as the 51st largest corporation in India with first rank in 'Infrastructure Development' category. As of March 2018, Reliance Infrastructure has 56 subsidiaries, 8 associate companies, and 2 joint-ventures. The EPC Business division of the company in 2018 has bagged various orders, including ₹7,000 crore Versova–Bandra Sea Link project, [5] ₹3,647 crore Uppur Thermal Power Project, ₹1,881 crore National Highway projects from NHAI in Bihar & Jharkhand, [6] ₹1,585 crore Mumbai Metro Line-4 project, [7] ₹1,081 crore Kudankulam Nuclear Power Plant project [8] and others.

History

The predecessor company, Reliance Energy Limited, came into existence when it took over an 83-year-old government undertaking, the Bombay Suburban Electric Supply (BSES) in 2002. [9] BSES was originally founded in October 1929.

In April 2008, Reliance Energy Limited changed its name to Reliance Infrastructure Limited. [10] [11] The company entered the road building industry in 2006 with two National Highway projects in Tamil Nadu (Namakkal-Karur and Dindigul-Samayanallur), both sections of National Highway 44 (formerly NH 7). [12] In 2011, it was announced that the company was planning to buy out licences to build road projects from companies unable to do so. [13]

In September 2018, at a time of financial stress, R-Infra sold its power transmission business in Mumbai to Adani Electricity Mumbai Limited for 18,800 crore (equivalent to 250 billionorUS$3.1 billion in 2023). [14]

BSES Delhi

Till 2002, the Delhi Vidyut Board (DVB) used to supply electricity to NCT of Delhi, except areas of Lutyens and Cantonment which were & are still catered by New Delhi Municipal Council (NDMC) and Military Engineer Services (MES) respectively. The same year in July, DVB was unbundled and was split into 3 distribution companies namely, BSES Rajdhani Power Limited (BRPL), BSES Yamuna Power Limited (BYPL) & Tata Power Delhi Distribution Limited (TPDDL). Both BRPL and BYPL are 51:49% joint venture between Reliance Infrastructure and Government of Delhi. Since then, BRPL supplies electricity to South & West Delhi covering an area of 750 sq. km. Similarly, BYPL supplies electricity to Central & East Delhi covering an area of around 200 km2.

Transportation

Airports

Reliance Infrastructure with its subsidiary company, Reliance Airport Developers Limited (RADL) operated five minor brownfield airports in various small towns of Maharashtra, viz. Nanded Airport, Latur Airport, Baramati Airport, Yavatmal Airport, and Osmanabad Airport. In March 2015, the Government of Maharashtra was looking at cancelling the agreements and taking back control of the airports due to slow progress. [15]

In March 2019, the company received a contract from the Airports Authority of India (AAI) worth 648 crores (USD 92 million) for the construction of Rajkot Greenfield Airport at Hirasar in Rajkot district of Gujarat state. [16]

Metro projects

Toll roads

Reliance Infrastructure is the largest concessionaire of the National Highways Authority of India (NHAI), having received as many as eleven contracts to build roads under the NHDP Phase-V. These eleven contracts involve constructing about 1,000 km of highway and expressway projects worth 120 billion (US$1.5 billion). All the projects are on Build–Operate–Transfer scheme of funding, where R-Infra is required to raise all its own funds and gets to collect tolls on the road for a period of thirty years. Three of the projects (all in Tamil Nadu) are already operational. [19] The eleven projects are:

Toll Plaza on NK Toll Road Reliance-NKTRPL-Toll-Plaza-2.JPG
Toll Plaza on NK Toll Road

Bridges

Reliance Infrastructure and Hyundai Engineering formed a joint venture to build the Worli-Haji Ali Sea Link, part of the Western Freeway. [22] [23] The consortium was also to toll the Bandra Worli Sea Link for 40 years. [24] In early 2012, the Municipal Corporation of Greater Mumbai proposed constructing a 35 km coastal road between Nariman Point and Kandivali. [25]

Reliance protested against this project as it claimed it would incur losses. [26] Subsequently, the Government of Maharashtra appointed a committee to look into the matter. [27] Later, it was reported that the MSRDC was likely to cancel the deal with Reliance due to the latter not having started construction two years after signing the agreement. [28] Afterwards, it was announced that the deal was canceled as the mediation report stated that it was impossible to build. [29]

Power projects

EPC contracts

Projects where the Engineering-Procurement-Construction (EPC) contract was awarded to Reliance Infrastructure Limited:

BoP contracts

Projects where the Balance of Plant (BoP) contract was awarded to Reliance Infrastructure Limited:

Defence

Subsidiaries

As of March 2020, Reliance Infrastructure Limited has 58 subsidiaries [30] including Reliance Defence, Dassault Reliance Aerospace, BSES Rajdhani Power, BSES Yamuna Power, BSES Kerala Power, Reliance Naval Systems, Reliance Airport Developers, Mumbai Metro One, Reliance Sealink One, Delhi Airport Metro Express, Reliance Smart Cities, Thales Reliance Defence Systems, Reliance Power Transmission, Reliance Aerostructure and Reliance Helicopters.

See also

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References

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