Reliance Industries Limited will invest Rs 75,000 crore in Uttar Pradesh over the next four years on expansion of 5G services penetration, retail and renewable energy capacity. Group chairman Mukesh Ambani made this announcement on Friday at the ‘Uttar Pradesh Global Investors Summit’.
Ambani also announced the foray of a petrochemicals-to-telecom group
Additionally, Ambani also announced the foray of a petrochemicals-to-telecom group into the bio-energy business. This involves turning agricultural waste into gas. It can be used to run light kitchen stoves, run industrial machinery and power vehicles.
Ambani said his group would set up 10 GW of renewable energy capacity
Ambani said his group would set up 10 GW of renewable energy capacity in the next 10 months and also launch 5G services across the state. He said, “We plan to invest an additional Rs 75,000 crore in the next four years in Jio, retail and renewable businesses in UP.” Ambani said, “With these new investments, more than one lakh jobs will be created in the state.”
This investment will be in addition to Rs 50,000 crore already invested in the state. Telecom company Reliance Jio will start 5G services in every area and village of the state by December 2023.
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