Chief Minister Y.S. Jagan Mohan Reddy shares a lighter movement with the MD of Reliance group Mukesh Ambani at the inaugural session of the Andhra Pradesh Global Investors’ Summit in Visakhapatnam on March 3, 2023.
| Photo Credit: K.R Deepak
Reliance Industries Chairman Mukesh Ambani on Friday said his group will be investing in Andhra Pradesh to set up a 10-gigawatt renewable solar energy project.
Speaking at the inaugural session of the two-day Global Investors Summit 2023 here, Mr. Ambani said under the determined and farsighted leadership of Prime Minister Narendra Modi, India has now become the fastest-growing economy in the world.
Similarly, Andhra Pradesh has grown phenomenally under the leadership of Chief Minister Y.S. Jagan Mohan Reddy. “This morning, I am happy to announce that we will continue our investments and we will invest in 10 GW of renewable solar energy in the state of Andhra Pradesh,” Mr. Ambani said. “Reliance will create 50,000 new job opportunities in Andhra Pradesh and will promote the sale of products made in the State through retail business.”
He further said Reliance has invested over ₹1.50 lakh crore in its KG D-6 assets, developing and supporting gas pipelines.
Today the natural gas produced by Reliance in the KG D-6 basin was fuelling the country’s clean energy transition and will contribute to nearly 30% of its gas production, he said.
“This is just an example of how important Andhra is to the India story,” he added.
Mr. Reddy said, “We are just a phone call away and have an industry-friendly policy.” He also said the State received 320 investment proposals worth ₹13 lakh crore. Visakhapatnam is beautiful and will be the executive capital of the State, Mr. Reddy added.
The CM said the State will sign Memorandums of Understanding (MOUs) for ₹11.5 lakh crore on the first day of the investors summit.
(With inputs from agencies)
