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Reliance Infrastructure

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Reliance Infrastructure Limited
Formerly
  • Bombay Suburban Electric Supply Limited (1929–1992)
  • BSES Limited (1992–2004)
  • Reliance Energy Limited (2004–2008)
Company typePublic
Industry
PredecessorBombay Suburban Electric Supply Limited
Founded1 October 1929; 95 years ago (1929-10-01) as Bombay Suburban Electric Supply Limited
HeadquartersDAKC,
Navi Mumbai
,
India
Key people
Products
  • Electrical power
  • natural gas
  • defence
  • infrastructure
  • transport
Services
RevenueDecrease ₹19,132.55 crore (US$2.3 billion) (2022)
Decrease ₹138.42 crore (US$17 million) (2022)
Decrease ₹−807.70 crore (US$−97 million) (2022)
Total assetsIncrease ₹62,689.23 crore (US$7.5 billion) (2022)
Total equityIncrease ₹16,491 crore (US$2.0 billion) (2022)
Number of employees
5,400+ (2021)
ParentReliance Group
Websitewww.rinfra.com Edit this at Wikidata
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 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.

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

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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 billion or US$3.0 billion in 2023).[14]

In October 2024, Reliance Infrastructure board has approved raising of $350 million (Rs 2,930 crore) through ultra-low cost 10-year maturity unsecured foreign currency convertible bonds (FCCBs). The board also approved the employees stock option scheme (ESOPs), which will provide a grant of up to 26 million equity shares of value of over Rs 850 crore.[15]

BSES Delhi

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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

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Airports

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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.[16]

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.[17]

Metro projects

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Toll roads

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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$1.4 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.[20] The eleven projects are:

Toll Plaza on NK Toll Road

Bridges

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Reliance Infrastructure and Hyundai Engineering formed a joint venture to build the Worli-Haji Ali Sea Link, part of the Western Freeway.[23][24] The consortium was also to toll the Bandra Worli Sea Link for 40 years.[25] In early 2012, the Municipal Corporation of Greater Mumbai proposed constructing a 35 km coastal road between Nariman Point and Kandivali.[26]

Reliance protested against this project as it claimed it would incur losses.[27] Subsequently, the Government of Maharashtra appointed a committee to look into the matter.[28] 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.[29] Afterwards, it was announced that the deal was canceled as the mediation report stated that it was impossible to build.[30]

Power projects

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EPC contracts

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

BoP contracts

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

Defence

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  • Reliance Defence Limited (RDL), established on 28 March 2015 as a subsidiary of Reliance Infrastructure has 11 subsidiaries in niche segments of the defence sector. RDL has organized the structure into defence, marine, and land systems with a focused approach towards aiming capabilities and developing in-house expertise in Land-based weapon platforms and systems, Air Combat vehicles, aircraft and avionics, Missiles, Unmanned systems, and C4ISR systems, Surface & sub-surface shipbuilding and development. R-Infra has already acquired Pipavav Defence and Offshore Engineering Company Limited in Gujarat.[citation needed]
  • Dhirubhai Ambani Aerospace Park spread over 400 acres land at MIHAN in Nagpur, planned with an aim to create a comprehensive eco-structure through backward integration under the Government of India's Make in India program for indigenous manufacturing of aerospace components. This aerospace park, first of its kind in India, comprising a cluster of manufacturers will indigenously deliver major aircraft components, spares and avionics requirements of the aerospace industry.[citation needed]

Subsidiaries

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As of March 2020, Reliance Infrastructure Limited has 58 subsidiaries[31] 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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  1. ^ "Reliance Infrastructure Annual Report 2021-2022" (PDF).
  2. ^ "Google Finance Reliance Infrastructure".
  3. ^ "Company Profile".
  4. ^ "Reliance Energy". Rel.co.in. Retrieved 2 September 2010.
  5. ^ "Versova-Bandra Sea Link project: MSRDC signs pact with Reliance Infrastructure". 5 September 2018.
  6. ^ Prasad, Rachita. "Reliance Infrastructure bags Rs 1,881 crore worth orders from NHAI". The Economic Times.
  7. ^ "Reliance Infrastructure bags three packages of Mumbai Metro Line 4". Business Standard India. 13 April 2018.
  8. ^ "Reliance Infra wins Rs 1,081-cr Kudankulam Nuclear Power project contract". 9 April 2018.
  9. ^ "It's official: BSES's now called Reliance Energy – The Economic Times". 9 October 2019. Archived from the original on 9 October 2019. Retrieved 3 November 2020.
  10. ^ Chandran, Rina (28 April 2008). "India Reliance Energy is now Reliance Infrastructure". Reuters. Retrieved 2 September 2010.
  11. ^ "Reliance Energy News". Reliance-energy-news.newslib.com. Archived from the original on 14 July 2011. Retrieved 2 September 2010.
  12. ^ "Reliance Energy, NHAI join hands to pave way for highway development". The Financial Express. New Delhi. 31 January 2006. Retrieved 14 April 2012.
  13. ^ Naidu, Katya (17 August 2011). "R-Infra looks for business in troubled road projects". Business Standard. Mumbai. Retrieved 15 April 2012.
  14. ^ "RInfra sells Mumbai power utility to Adani".
  15. ^ "Reliance Infra board okays $350 mn bond issue". Financialexpress. 2 October 2024. Retrieved 2 October 2024.
  16. ^ Reporter, B. S. (6 October 2015). "Maharashtra to take back five airports from Anil Ambani firm". Business Standard India. Retrieved 7 May 2022.
  17. ^ Mar 5, PTI / Updated. "Reliance Infra wins Rs 648 cr contract from AAI to build new airport at Rajkot, Gujarat - Times of India". The Times of India. Retrieved 7 May 2022.{{cite news}}: CS1 maint: numeric names: authors list (link)
  18. ^ ""Mumbai's first metro may chug in 2013". DNA India". Retrieved 8 May 2012.
  19. ^ "'Metro, Worli-Haji Ali sea link work on schedule' – Mumbai – DNA". Daily News and Analysis. 17 August 2010. Retrieved 2 September 2010.
  20. ^ "Vision Media Group publisher of Power Insight bi-monthly magazine ". Vision-media.co.in. Archived from the original on 3 September 2010. Retrieved 25 October 2010.
  21. ^ "Highways Sector on Overdrive – NBM Media". Nbmcw.com. Retrieved 25 October 2010.
  22. ^ "RInfra announces commencement of Salem-Ulundurpet four- lane stretch". The Hindu. Salem. 2 August 2012. Retrieved 21 August 2012.
  23. ^ "Reliance Infrastructure to develop Worli to Haji Ali Sea Link". Indiainfoline.com. 29 June 2010. Retrieved 2 September 2010.
  24. ^ "Reliance Infrastructure to raise Rs 2,600 cr for Worli sea link project". The Economic Times. 29 June 2010. Retrieved 2 September 2010.
  25. ^ "MSRDC mulls options for sea link to Haji Ali". Mumbai. DNA. 22 May 2012. Retrieved 22 July 2012.
  26. ^ "BMC panel moots 35.6 km coastal road". Daily News and Analysis. Mumbai. 18 January 2012. Retrieved 19 May 2012.
  27. ^ Siddhaye, Ninad (7 January 2012). "Maharashtra takes steps to bridge sea link differences". Daily News and Analysis. Mumbai. Retrieved 19 May 2012.
  28. ^ "Maharashtra appoints committee to decide on sea link project". Daily News and Analysis. Mumbai. 10 May 2012. Retrieved 19 May 2012.
  29. ^ Shaikh, Zeeshan (15 June 2012). "MSRDC board likely to scrap R Infra's contract for Worli-Haji Ali sea link". Hindustan Times. Mumbai. Archived from the original on 25 January 2013. Retrieved 22 July 2012.
  30. ^ Tembhekar, Chittaranjan (25 June 2012). "It's final: Sea link extension junked, coastal road likely". The Times of India. Mumbai. Archived from the original on 16 June 2013. Retrieved 22 July 2012.
  31. ^ "Reliance Infrastructure Annual Report".
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