Reliance will invest Rs 600,000 crore in Gujarat, creating one million jobs.
Reliance Industries Limited (RIL) will invest Rs 5.95 lakh crore in Gujarat. The company will invest in green energy and other projects. The company signed an MoU with the state government on Thursday. The MoU is part of the Vibrant Gujarat Summit 2022 to promote investment. The project will create about 1 million direct and indirect jobs in Gujarat.
To make Gujarat a pure zero and carbon free state, Reliance has decided to invest about Rs 5 lakh crore over a period of 10-15 years. Reliance will do this by developing a 100 GW renewable energy power plant and green hydrogen ecosystem. Reliance has started land scouting for 100 gigawatt renewable energy power projects in Kutch, Banaskantha and Dholira.
The company has demanded 4.5 lakh acres of land from the government. Reliance will invest Rs 60,000 crore in this energy project. In addition, Reliance will invest Rs 25,000 crore in existing projects and new projects in the next three to five years.
Reliance has also proposed to invest Rs 7,500 crore in upgrading Geo Network to 5G in three to five years and Rs 3,000 crore in five years in Reliance Retail. In the presence of Chief Minister Bhupinder Patel, Reliance Director Corporate Affairs Permal Nathwani signed a memorandum of understanding (MoU) worth Rs 595,000 crore with Rajiv Gupta, Additional Chief Secretary, Gujarat Industries Department.