(MENAFN) Reliance Industries Ltd plans to invest about USD13 billion in energy projects, including 400,000-bpd crude refinery at its Jamnagar complex, The Peninsula Qatar reported.
The refinery would process cheap and heavy crudes that are increasingly available to Asia as the shale boom has cut US demand for the grades, the Indian company said.
"The company's balance sheet has enough firepower to finance refining and other businesses like telecom and retail," head of research and chief strategist at SMC Global Securities said.
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