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Sunday, December 3, 2023

RIL will invest additional Rs 75K cr in UP: Mukesh Ambani


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Lucknow: Reliance Industries Limited (RIL) Chairman Mukesh Ambani on Friday announced that his group would make an additional investment of Rs 75,000 crore in the country’s third largest state Uttar Pradesh in the next four years, which would create more than one lakh new employment opportunities.

Addressing the inaugural session of the UP Global Investors Summit in the presence of Prime Minister Narendra Modi, Ambani said Reliance will set up retail, renewable businesses and plans to invest an additional Rs 75,000 crore in UP, the new growth engine of India, which is one of the world’s fastest growing economies, in the next four years, which will create more than one lakh additional employment opportunities.

He said till 2018, Reliance had invested Rs 50,000 crore in UP. In the next four years, the group has plans to invest an additional Rs 75,000 crore, which will take the total investment of the group to more than Rs 1.25 lakh crore in this state with favorable conditions for investment, he said.

The RIL Chairman said under the able guidance of Prime Minister Narendra Modi, Chief Minister Yogi Adityanath has given a new identity to UP and the state can become a trillion dollar economy within the next five years.

He said Reliance Group will set up renewable energy capacity of 10 GW in UP. “This will be the biggest renewable energy project in UP so far. Apart from this, his group will also invest in the field of organic gas energy in the state, which will directly benefit the farmers along with improving the environment. Our farmers are not only food providers, but now they will also become energy providers,” he said.

Ambani said December this year, Jio’s 5G service will be expanded to all the districts and towns of UP. He also announced two pilot projects through Jio platforms for affordable education and healthcare in villages and small towns.

He said, “Just as today India has become the center of hope for the whole world, similarly today UP has become the center of hope for the new India. Enthusiasm is visible among the people from Noida to Gorakhpur. The Ganges of development is flowing. After improving the law and order, UP has made a lot of progress in infrastructure and ease of doing, due to which today this state has become the first choice in terms of investment.”


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