Mukesh Ambani, chairman and managing director of Reliance Industries, spoke at the Global Investors Summit 2023 in Visakhapatnam on Friday about Reliance’s commitment to Andhra Pradesh’s incredible economic potential. He made announcement that his company Jio will invest 40,000 crores in Andhra Pradesh.
According to him, Reliance’s oil and gas exploration team found gas in AP in 2002 and has invested over 1.5 lakh crore in the development of the KG-D6 basin and pipeline infrastructure. A majority of India’s gas production will come from the KG-D6 basin, where Reliance produces the gas fueling the clean energy transition.
“This shows how important Andhra is to the Indian story… And how deeply Reliance is invested in the Andhra story,” Ambani said.
Over 40,000 crores to be invested by Jio in Andhra Pradesh
Ambani stated that Jio will invest of over ₹40,000 crores that will Andhra Pradesh in creating a strongest digital network. 98% of Andhra Pradesh’s population, from the densely populated cities to the most isolated towns, will have access to Jio’s 4G network. The expansion of Jio’s True 5G across India, including in AP, will be completed by 2023 and is sure to set off a wave of digital transformation that will bring benefits to all aspects of the economy and create plenty of jobs for those living in the state.
In AP, Reliance has pioneered the retail revolution
Ambani highlighted how Reliance has made a partnership with more than 1.2 lakh kirana merchants from 6,000 villages of AP to help them in their transition towards the digital age. With its presence, the company created approximately 20,000 direct and numerous indirect jobs in the state. Looking ahead, Reliance Retail is set to source greater quantities of agri and agro-based products as well as manufactured goods from AP to be offered across India, promoting farmers’, artisans’ and other livelihoods while creating 50,000 opportunities in the region. Supporting this endeavour is the Reliance Foundation that provides aid in education, healthcare and rural transformation areas; as Reliance grows its involvement in AP so will the Foundation’s support for local communities’ development needs there.
AP will get 10GW of renewable energy from Reliance
Ambani assured the people and government of AP that Reliance will continue to invest in the state and will invest in ten gigawatts of renewable energy.