After Gujarat, Reliance Industries Limited is ready to invest Rs 65,000 crore in AP in large quantities. Reliance Energy is preparing to invest in AP in the wake of discussions held by Minister Nara Lokesh. An agreement will be signed in the presence of the Chief Minister Chandrababu Naidu on Tuesday. It is ready to set up 500 compressed biogas plants (CBG) in the state in the next five years with a total investment of Rs. 65,000 crore.
This is the largest investment coming to a state other than Gujarat under clean energy. Reliance Industries Limited will set up each plant with an investment of Rs. 130 crore. That too will be set up in wasteland areas of the state. If these plants are set up, the government estimates that over 2.5 lakh people will get direct and indirect employment opportunities in the state.
Anant Ambani, who heads the Reliance Industries Limited Clean Energy Initiative, and Minister Nara Lokesh, who heads the AP Cabinet Sub-Committee on Job Creation in AP, met in Mumbai and finalized the plans related to these investments. As the chairman of the Job Creation Sub-Committee, Minister Lokesh is working systematically to achieve the target of creating 20 lakh jobs in the state in the next 5 years.
The discussions held with Reliance in Mumbai before Lokesh’s visit to the US became fruitful. Lokesh explained the priority given by the AP government to the green energy and clean energy sectors.
With the efforts of Minister Lokesh as the Chairman of the Job Creation Sub-Committee, Tata Power has already come forward to invest Rs 40,000 crore in the solar and wind power sector in AP. Discussions are underway without any rush to attract investment to the state.
AP industry groups are expressing happiness over the recent investment of Reliance by finalizing an investment of Rs 1.4 lakh crore with steel giant Aditya Mittal through a single video conference. The investments have materialized in just 30 days after the discussions in Mumbai.
These investments are proof of the speed of doing business of the AP government. The AP government has brought a clean energy policy with many incentives.