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Business News/ News / India/  RIL eyes UP green energy, 5G
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RIL eyes UP green energy, 5G

Elaborating on each of the group’s business arm’s investment plans, Ambani said that Reliance Jio will complete its rollout of 5G to cover all towns and villages in the state by December of 2023

Reliance Industries Ltd will invest ₹75,000 crore in Uttar Pradesh over the next four yearsPremium
Reliance Industries Ltd will invest 75,000 crore in Uttar Pradesh over the next four years

Reliance Industries Ltd will invest 75,000 crore in Uttar Pradesh over the next four years to set up 10GW of renewable energy capacity and roll out 5G services, RIL chairman and managing director Mukesh Ambani said on Friday.

He was among top industry leaders to pledge crores of rupees in infrastructure and business development in UP even as billionaire Gautam Adani was conspicuous by his absence at the event that he’s attended in the past.

Kumar Mangalam Birla, who leads the Aditya Birla Group, promised 25,000 crore, while the Tata Group is developing an integrated multi-modal air cargo complex at the upcoming Jewar airport.

“We plan to invest an additional 75,000 crore in UP over the next four years across Jio, retail and renewable businesses," Ambani told the Uttar Pradesh Global Investor Summit 2023. He said RIL had invested 50,000 crore in the state since 2018 and created 80,000 jobs. “These new investments will create an additional over 1 lakh jobs in the state," he added.

Elaborating on each of the group’s business arm’s investment plans, Ambani said that Reliance Jio will complete its rollout of 5G to cover all towns and villages in the state by December of 2023 and Jio Platforms will help modernise all areas of business and industry, agriculture, social sector, and governance.

“We plan to pilot our two new innovative initiatives, Jio School and Jio AI Doctor, to bring top-class education and healthcare most affordably to villages and small towns across the state of Uttar Pradesh," he said.

“In new energy, we will set up 10 GW of renewable energy capacity — the largest in UP. We will also start an ambitious new bio-energy business," he said. Reliance Retail will modernize thousands of kirana and small stores across UP and increase manifold its sourcing of a wide range of agriculture and non-agricultural products from the state. This he said will benefit farmers, local artisans, craftsmen, small businesses and the supply-chain ecosystem.

Adani, who’s battling allegations of fraud and market manipulation from a US short seller, was absent from the opening day of the three-day forum in state capital Lucknow.

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Published: 11 Feb 2023, 12:11 AM IST
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