Mumbai: The Reliance group announced the merger of its Reliance Industries Ltd (RIL) and Reliance Petroleum Ltd (RPL) on March 3 to make Reliance one of the world’s top 30 energy giants.

Speaking at a media conference, RIL’s managing director Anil Ambani said, "The merged entity will have enhanced financial strength and resources, which will enable us to pursue future growth opportunities both domestically and internationally. It is clearly a merger which creates a unique enterprise of global scale."

With this significant merger the combined market capitalisation of the new firm would be over $ 10.06 billion.