The Reliance Group will be investing ₹50,000 crore in Andhra Pradesh in the electronics, the IT and the petroleum sectors in a phased manner. The MoUs were signed here on Sunday on the second day of the CII Partnership Summit.
Reliance Jio is investing ₹15,000 crore in setting up electronics park at Tirupati and the new capital city of Amaravati.
An institute of excellence would be set up at Amaravati, which will be a hub of innovation, incubation and start-ups.
The unit in Tirupati will have the capacity to manufacture one million cell phones.
Chief Minister N. Chandrababu Naidu said, “This will revolutionise the IT and the ITES industry and will be a huge step forward in making AP a hardware hub. The institute will be the best in India and on par with global standards.” The Reliance also proposed to invest ₹35,000 crore in the oil and gas sector in phases. “These will generate 25,000 jobs in the years to come,” Mr. Naidu added.
‘Projects’ launch soon’
After signing the MoUs, PMS Prasad, RIL Executive Director, said: “The projects will take off in the next three months and will be completed in three years. We are very serious about getting it done in a time-bound manner and soon there will be measurable progress seen in that direction.” Mr Naidu said the Reliance Group was also keen on investing in the agriculture sector and evinced interest in the e-Pragati platform.
“Very soon a team of 25 technical experts from Reliance Group will be working closely with the AP government on this front. It will be a unique amalgamation of the best of technology and governance.”
State IT Minister Lokesh said after the completion of the hardware unit in Tirupati, 80% of the Reliance Jio’s requirement would be sourced from the hub.
