ANI Reliance Industries Limited announces investment of 5 lakh crore in Gujarat

Ahmedabad Gujarat - January 13, ANI Reliance Industries Limited RIL said on Thursday it will invest Rs 5.95 lakh crore in renewable energy power plant and other projects in Gujarat.

The proposed projects will create 10 lakh direct and indirect employment opportunities in the state.

Mukesh Ambani-led company signed an MoU with the Government of Gujarat for the investment proposal as part of the Investment Promotion Activity for Vibrant Gujarat Summit 2022.

RIL proposes to invest 5 lakh crore in the state over the course of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development in Gujarat, to make Gujarat net zero and carbon free.

RIL will develop an eco-system for Small and Medium Enterprises SMEs and encourage entrepreneurs to embrace new technologies and innovations leading to the captive use of Renewable Energy and Green Hydrogen, it said.

The vision of Prime Minister Narendra Modi and the initiatives of RIL for decarbonisation and creation of a green environment are part of the vision of RIL.

In consultation with the Government of Gujarat, RIL has begun the process of scouting land for 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company requested 4.5 lakh acres of land in Kutch.

RIL will invest another Rs 60,000 crore in setting up a 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.

RIL will invest 25,000 crore in existing projects and new ventures over the next 3 to 5 years.