RIL to add more space for retail venture

Cash-plush Reliance Industries,headed by Mukesh Ambani,has asked property owners to take part in the ambitious growth plan for its retail venture by renting or selling real estate space across the country.

The company has invited applications from property owners as it wants commercial space between 3,000 and 30,000 sq ft and above for Reliance Retail,according to information posted on its website.

This is part of RIL’s plans to expand its retail venture tenfold in the next five years,at a cost of Rs 45,000 crore.

Addressing the annual general meeting of RIL,chairman Mukesh Ambani had last week said that Reliance Retail has revenue in excess of Rs 4,500 crore in the 2009-10 fiscal.