January 13, 2022 11:39:31 pm
Reliance Industries Limited (RIL) has signed a Memorandum of Understanding (MoU) with the Gujarat government to invest Rs 5.95 lakh crore that will create 10 lakh direct and indirect jobs in the state, the company stated in a release Thursday. The MoU was signed as part of the investment promotion activity for the Vibrant Gujarat Summit 2022.
The proposal includes Rs 5 lakh crore investment from RIL in the state over 10-15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.
In consultation with the state government, RIL has started the process of scouting land for a 100 GW renewable energy power project in Kutch, Banaskantha and Dholera. The company has requested 4.5 lakh acres of land in Kutch.
RIL will also invest Rs 60,000 crore to set up a Solar PV Module (manufacture of Polysilicon, wafer, cell and module), electrolyzer, energy-storage battery and fuel cells. An additional Rs 25,000 crore will be invested in existing projects and new ventures over the next three to five years. RIL has also proposed to invest Rs 7,500 crore in the same period for upgrading Jio Network to 5G and another Rs 3,000 crore over five years in Reliance Retail.
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