Lokesh's efforts bring Rs 65,000 crore Reliance investment to AP

By The Capital

On 12 Nov 2024 15:15:17

Lokesh's efforts bring Rs 65,000 crore Reliance investment to AP

Reliance Industries Limited is set to invest Rs. 65,000 crore in Andhra Pradesh, marking one of its largest investments after Gujarat.

Reliance Industries Limited is set to invest Rs. 65,000 crore in Andhra Pradesh, marking one of its largest investments after Gujarat. The company will establish 500 advanced biogas plants, a move expected to generate around 250,000 jobs, both directly and indirectly.

The MoU for this investment will be signed today in Amaravati, with Chief Minister Chandrababu Naidu presiding over the ceremony. The announcement comes as a result of minister for IT and HRD Nara Lokesh's recent efforts to attract investment. Lokesh, who heads the Job Creation Sub-Committee, has been working to create 2 million jobs in Andhra Pradesh within five years. His recent discussions in Mumbai with Mukesh Ambani and Reliance Clean Energy head Anant Ambani paved the way for this commitment.

Minister Lokesh has played a pivotal role in positioning Andhra Pradesh as an attractive hub for clean and green energy investments. Reliance’s entry follows Tata Power’s commitment of Rs. 40,000 crore in solar and wind power. Lokesh’s rapid negotiation approach has earned recognition, with industry leaders lauding the state’s clean energy policies and incentives aimed at boosting youth employment.