Reliance Industries will invest in producing 10GW of renewable solar energy in Andhra Pradesh, Mukesh Ambani, Chairman, Reliance Industries said here.
Speaking at the inaugural session of the two-day AP Global Investors Summit 2023, Ambani said: “I am happy to announce that we will continue our investments (in AP) and we will invest in 10GW of renewable solar energy in the state of AP.”
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Stating that Reliance has been among the first Indian companies to believe in economic potential of the state, Ambani said: “It’s here that our oil and gas exploration team found gas in 2002.”
Reliance had invested ₹1,50,000 crore in KG-D6 basin development, he added.
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“We are creating the largest and best digital network footprint of Jio in the state by investing over ₹40,000 crore,” Ambani said.
The 4G network of Reliance would cover 98 per cent of the state’s population, including those living in the remotest corners , he added.
Referring to Reliance Retail, Mukesh Ambani said it would “significantly more” in agri and agro-based products and manufactured goods in Andhra Pradesh.
“Be it economic gtowth or ease of doing business, the state today ranks among the best in India,” Ambani said.
Saying that Andhra Pradesh was gifted with abundance, he said strengths of the state included its entrepreneurs in infra and pharma, diaspora, availability of ‘best” professionals and the potential in emerging blue economy.