NE BUSINESS BUREAU
AHMEDABAD, JAN 13
Billionaire Mukesh Ambani-led Reliance Industries Limited on Thursday announced that it has signed an MoU with the Government of Gujarat for a total investment of Rs 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the State.
Continuing its commitment to #Gujarat, #RelianceIndustries signed MoU with State Govt to invest Rs 5.95 lakh crore in #NewEnergy, 4 Giga Factories, upgrading #Jio network to #5G, expansion of retail & others. These projects will create 10L direct/indirect employment opportunities pic.twitter.com/XCjWmUKt6i
— Parimal Nathwani (@mpparimal) January 13, 2022
“To make Gujarat net zero and carbon free, Reliance Industries Ltd (RIL) proposes to invest Rs 5 lakh crore in the State over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development,” a company statement said.
- These projects will create 10 lakh employment opportunities in the State
- RIL to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development
- Further Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over next 3 to 5 years
The private sector giant will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.
RIL said its initiatives for decarbonisation and creating a green ecosystem emanate from the Prime Minister Narendra Modi’s vision. “In consultation with the government of Gujarat, RIL has started the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera,” the statement added.
The company has requested for 4.5 lakh acres of land in Kutch.
RIL will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells.
Further Rs 25,000 crore investments will be made by RIL in existing projects and new ventures over next 3 to 5 years. RIL has also proposed to invest Rs 7,500 crore over 3 to 5 years for Jio Network upgradation to 5G and another Rs 3,000 crore over 5 years in Reliance Retail.
