Reliance to invest Rs 3 lakh cr in Gujarat in next 10 yrs : Ambani


Team Udayavani, Jan 18, 2019, 9:42 AM IST

Gandhinagar: India’s richest person Mukesh Ambani Friday committed to invest Rs 3 lakh crore in various projects in the next 10 years in Gujarat, that may range from energy and petrochemical to new technology and digital business.

Ambani’s Reliance Industries operates the world’s largest oil refining complex at Jamnagar in Gujarat as well as petrochemical units at multiple locations in the state.

“Gujarat is Reliance’s Janmabhoomi (birthplace) as well as its Karmabhoomi (workplace). Gujarat has always been – and will always remain – our first choice,” he said at the 9th Vibrant Gujarat Global Summit here. Reliance Industries has also invested billions of dollars in the roll out of telecom venture, Jio.

“We have so far invested nearly Rs 3 lakh crores in the state of Gujarat. And created and catalyzed over one million livelihood opportunities in Gujarat. In comparison to the past decades, Reliance will double this investment and employment numbers over the next ten years,” he said.

Ambani said, while Jio’s network is now fully 5G ready, the telecom arm and the retail division will launch a new commerce platform to connect small retailers and shopkeepers with customers.

The twin oil refineries at Jamnagar will produce more value-added products like petrochemicals and less of fuel as the world moves towards electric vehicles. He, however, did not say when Jio, that started operations in 2016, will launch 5G services.

“Today, Gujarat is the showcase for Jio’s 4G wireless broadband network… And Jio’s network is fully 5G ready; which means Gujarat will continue to remain on the forefront of digital connectivity for years to come,” he noted.

Without giving timelines, he said Jio and Reliance Retail, which has over 9,000 stores across the country, will launch “a unique new commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat which are part of over 3 crore community in India.” 

Ambani had previously spoken of leveraging the Jio network for launching some sort of e-commerce venture. “As the world moves towards electrical vehicles, Reliance will use hydrocarbons less for fuel and more for producing high-value new materials with a wide range of uses in society,” he said adding the oil to chemicals strategy will greatly boost exports and create employment.

Also, Reliance Foundation will invest Rs 150 crore to make Pandit Deendayal University in Gujarat even stronger and an institution of international repute, he said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Farooq Abdullah seeks inquiry into spike in terror attacks in Valley since Omar’s swearing-in

Sabarimala pilgrims to get free insurance coverage of Rs five lakh

Related Articles More

Sensex, Nifty decline on selling in IT shares, FII sellout; end Samvat 2080 with 22% gains

Sensex, Nifty decline in early trade on unabated foreign fund outflows, selling in IT stocks

Gold surges Rs 1,000 to breach Rs 82k-mark as Diwali sparkles demand

Car makers witness record sales on Dhanteras; Oct bookings up by 30%

Dhanteras begins on slow note; Jewellers expect footfalls to increase

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.