Indian billionaire Mukesh Ambani is running his business in various sectors including technology, FMCG, oils etc. The 66-year-old is the richest person in India with a real-time net worth of Rs 944210 crore, as per Forbes. His Reliance Industries, whose market cap is Rs 1947000 crore, is one the largest companies in India. It also runs a refining complex in Jamnagar, Gujarat.
Recently, attacks by Yemen's Houthi group on ships carrying fuel tankers in Red Sea caused huge losses to several companies. However, Mukesh Ambani has reportedly saved thousands of crores by using a 526-year-old hack. Amid the risk of Yemen's Houthi group attack in Red Sea, tankers filled with fuel from Reliance Industries refineries are sailing via the Cape of Good Hope around Africa, according to shipping sources and ship tracking data, Reuters reported. Fuel producers usually use Suez Canal in Red Sea to reach Europe as it is the shortest route between Asia and Europe. However, due to recent attacks by Houthi group.
Oil from Reliance Industries refineries is exported to several European countries. Reliance reportedly opted for Cape of Good Hope route in Africa to avoid such attacks. This has saved millions of rupees for the company. Portuguese explorer Vasco da Gama also came to India 526 years ago in 1498 to reach India. Reliance is offering tanker owners the flexibility to go either way -- Red Sea or the African route -- to take the fuel, Reuters reported. Before Houthi group's attacks, all tankers carrying fuel from Reliance Industries passed through Red Sea.
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