OREANDA-NEWS. April 14, 2011. India's largest corporarte, Reliance Industries has hired business consultancy firm McKinsey to advice it on a business transformation plan which would catapult the company's enteprise value by another USD  80 billion in the next 10 years. RIL will also take help from its independent director and former dean of Kellogg's management school Dipak Jain to chart out the new business reorganisation plan.

ET NOW has learnt from three independent sources that the new corporate structure would lead to changes in the top management team. Though the current core team of Chairman Mukesh Ambani comprising of Manoj Modi, PMS Prasad and Kamal Nanavati will remain untouched, a few new faces will be hired to head new economy businesses like telecom, retail and financial services. RIL has already sounded off head hunting firms to poach talent from rival companies.

On the Bombay Stock Exchange, RIL's stock was trading at Rs 1021.70, up by over 1 percent since previous close. RIL is working in a plan to make a foray into new growth areas. The plan includes merger and acquitions apart from setting up new businesses. In the last one year, Reliance has made some big ticket acquistions in the United States to buy stake in shale gas assets.

In India , Reliance bought 14.8 per cent stake in Oberoi Hotels and spent Rs 4500 crore in taking over Infotel Broadband to launch 4G telecom services in the country. The company recently sold 30 per cent stake in its Krishna Godavari based gas assets for USD  7.2 billion to BP. The new corporate restructuring is expected to enable RIL transform itself into one of tge world's biggest conglomerates.

Last year, Mukesh Ambani's RIL and younger brother's Anil Dhirubhai Ambani Group (ADAG) dropped the earlier non-compete agreement and signed a new non-compete agreement. After this, RIL has been looking for opportunities in power sector across generation, transmission and distribution.

The company is currently looking for strategic partners, such as service providers, infrastructure providers, device manufacturers and other participants to expand its infocomm business. Last month, RIL also announced to establish a joint venture with US-based investment and technology development firm DE Shaw group to build financial services business in India. ADAG is already present in telecom, power and financial services.

RIL's main businesses under older Ambani brother have been exploration and production of oil and gas, petroleum refining and marketing, petrochemicals, textiles, retail and special economic zones. RIL has now become the world's largest producer of polyester yarn and fibre, is among the world's top ten producers of various petrochemicals and is the largest producer of gas in India.