Reliance Industries the country's largest private sector company, is mulling an entry into the rig manufacturing business.

Atul Chandra, President of RIL’s Petroleum International Business stated, "We are certainly looking at entering the rig manufacturing business."

The company plans to enter this new business either by end of this fiscal or beginning of the next year. It is also eyeing for a suitable partner for this business.

Separately, RIL is also in talks with IDFC Private Equity to acquire the latter’s 48 per cent stake in city gas firm, Krishna Godavari Gas Network. (KGGNL).  

Krishna Godavari Gas Network is a joint venture between the Andhra Pradesh government, Gujarat State Petroleum Corporation and IDFC Private Equity.

The RIL official said a majority stake in KGGNL would make a strategic business proposition for the company, as it is keen to sell gas in Andhra Pradesh and also enter city gas distribution.