Reliance to Invest in 10 GW Solar Energy Project in Andhra

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  • Company CMD Mr Mukesh Ambani addressed Andhra Pradesh Global Investors Summit 2023 held recently in Vizag
  • Reliance Retail plans to source more agri- and agro-based products and manufactured goods from AP for country-wide sale

At the Andhra Pradesh Global Investors Summit held recently, Mukesh Ambani said that his company Reliance will set up a 10-gigawatt solar energy project in the state. Further, he announced that the company will create 50,000 new job opportunities here and will promote the sale of products made in the state through retail business. He addressed the gathering saying that RIL has invested over ₹150,000 crores in kg d6 assets developing and supporting the gas pipeline.

Attributing advantages like the presence of brilliant industries and industrialists, especially in pharma and infrastructure and a vast sea border which has the potential to turn it into a blue economy, the RIL chief opined that Andhra Pradesh would play an important role in the growth story of New India.

Underlining that Reliance Retail has partnered with over 1.2 lakh grocery merchants in 6,000 villages of Andhra Pradesh, the industrialist stated that small businesses have been equipped with the tools they need to thrive in the digital age.

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Andhra Pradesh Chief Minister Jagan Reddy revealed that the state received 340 investment proposals worth ₹13 lakh crore that will provide employment to 6 lakh people across 20 sectors. He said, “As of today, post this speech, 92 MoUs with 11.85 lakh crore, which will give employment to almost four lakh people.”

Adding further, he remarked, “Groups like Reliance Group, Adani Group and Aditya Birla Group, Aurobindo Group, Daiken, NTPC, IOCL, Jindal Group, Mondeley’s expressed their interest in the state.”

At the summit, Mr Ambani also suggested that the rollout of Jio True 5G will be completed before the end of 2023 across the country. He added that with an investment of over ₹40,000 crores, Jio has created the largest and best digital network footprint in the state.

To showcase these strengths of the state, engage with the global investor community, and find mutually beneficial opportunities, the Government of Andhra Pradesh conducted a Global Investors Summit 2023 at Visakhapatnam on the 3rd and 4th of March 2023. The theme for the Global Investor Summit 2023 was ‘Advantage Andhra Pradesh- Where Abundance meets Prosperity’.

A Fortune 500 company, Reliance identifies itself as the largest private sector corporation in India. The company has evolved from being a textiles and polyester company to an integrated player across energy, materials, retail, entertainment and digital services.


 

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