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The Reliance Group has signed pacts with the Andhra Pradesh Government for investments worth ₹50,000 crore in the electronics, IT and petroleum sectors, in phases.
The MoUs were signed here on Sunday on the second day of the Confederation of Indian Industry (CII) partnership summit.
Reliance Jio will invest ₹15,000 crore in setting up electronics parks in Tirupati and Amaravati, the new capital city. An institute of excellence will be set up at Amaravati, which will be a hub for innovation, incubation and start-ups.
The unit at Tirupati will have the capacity to manufacture one million cell phones.
Chief Minister N Chandrababu Naidu said it was “a huge step forward in making AP a hardware hub, and IT and ITES are already being promoted in a big way.”
State IT Minister Nara Lokesh said 20 per cent of the cell phones in the country were being manufactured in Andhra Pradesh. “They are not merely being assembled in the State. They are being designed and manufactured here,” he added.
In the petroleum sector, Reliance proposes to invest ₹35,000 crore in phases.
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