Reliance India Limited had planned Rs 15,000 crore investment for the project. India is one of the biggest markets for set-top boxes
Reliance Industries Limited (RIL) has returned the land it was allotted for setting up an electronics manufacturing unit by Andhra Pradesh Industrial Infrastructure Corporation (APIIC). The company had earlier shown interest in setting up a set-top box and dongles manufacturing unit there.
The company noted that there’s no need for it to setup such a unit at the moment as the reason behind returning the land to the authorities. A news report mentions that RIL had planned Rs 15,000 crore investment for the project.
Andhra Pradesh Industrial Infrastructure Corporation officials confirmed that Reliance had given back the land and the process of returning the money back to RIL has been initiated. The previous Chandrababu Naidu government had allotted some 136 acres to RIL whereas the current Jagan Government handed over about 75 acres of land.
A report by IndustryARC mentions that the global set top box market size stood between $16.5 billion to 18 billion. India’s set top box user base, in 2017, as per the Telecom Regulatory Authority of India, in the stood at 67.56 million.
RIL recently also announced that it will be investing Rs 75,000 crore in setting up four gigafactories to make renewable energy equipment like solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years. The company has plans to set up around 100 GW of solar power generating capacity.
We plan to build four gigafactories to manufacture and integrate all critical components of new energy ecosystem. For the production of solar energy, we will build an integrated solar photovoltaic module factory. For the storage of intermittent energy, we will build an advanced energy storage battery factory. For the production of green hydrogen, we will build an electrolyser factory. Four, for converting hydrogen into motive and stationary power we will build a fuel cell factory,” Mukesh Ambani, Reliance Industries Ltd Chairman and Managing Director, had said.
Last year, Ambani had announced a 15-year commitment to become net carbon zero by 2035.
