Reliance Jio, in which RIL had invested over Rs70,000 crore, would start expanded field trials of its 4G services in August 2014 and will launch it in a phased manner next year, Mukesh Ambani said

Mukesh Ambani, the chairman of Reliance Industries Ltd (RIL), said the company would commence expanded field trials of its fourth generation (4G) broadband initiative, Reliance Jio, across multiple cities in India in August this year. He also said, the company, India's largest private sector entity, would invest Rs1.8 lakh crore over the next three years across business segments, including oil & gas, telecom and retail.

He was speaking at the company's 40th annual general meeting (AGM) in Mumbai. He said, limited field trials of its unit Reliance Jio's 4G services are already underway and commercial services will be launched in a phased manner in 2015 after completing expanded field trials. RIL had invested Rs70,000 crore in this venture and would see the 'fruits of the tremendous value created', he added.

“Over the past 37 years, we invested Rs2.40 lakh crore and over the next three years' investment cycle, we will be investing over Rs1.80 lakh crore. We are now making a very deep commitment to India's growth by investing in our integrated energy chain and India-centric consumer businesses,” Ambani said.

He also announced his wife Nita Ambani's induction into the company's Board.

Reliance Retail, the company's retail unit, is India's largest retailer in terms of revenue and added 367 new stores in FY14, Ambani said. He said that RIL's focus in FY15 and FY16 will be on retail, petrochemical and telecom investments.

Talking about oil and gas, RIL's bread and butter, the company chief said, along with its partners BP and NIKO they have initiated arbitration process seeking implementation of the domestic natural gas pricing guidelines 2014. "We have an ongoing arbitration with (Indian) government on the issue of disallowance of cost recovery. We will endeavour to work with the Government for both the arbitrations to achieve prompt and efficient resolution on the matter," Ambani said.

RIL is developing two coal bed methane (CBM) blocks in Sohagpur in Madhya Pradesh and hopes to start production in 2015-16. The company also received authorisation for building a natural gas pipeline from Shahdol in Madhya Pradesh to Phulpur in Uttar Pradesh, to transport gas from its CBM blocks. This would connect it with a major pipeline grid in the country for immediate utilisation of this gas by various consumers, the RIL chairman said.

According to Ambani, Reliance Retail grew 34% to garner revenues of Rs14,496 crore and is the country's largest retailer by revenues. During FY14, the company added 367 new stores in its retail chain. He said, the company would also expand to over 900 cities its new format Digital Express Mini, the easy-to-access technology store for mobility and communication products, in coming years.

Reliance Industries closed Wednesday 2.4% down at Rs1,064 on the BSE, while the 30-share Sensex ended the day 1.2% down at 25,207.