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Reliance Industries indicators MoU for funding of Rs 5.95 lakh crore in inexperienced vitality, different tasks in Gujarat

Picture Supply : INDIA TV

Reliance Industries indicators MoU for funding of Rs 5.95 lakh crore in inexperienced vitality, different tasks in Gujarat

Billionaire Mukesh Ambani-led Reliance Industries will make investments Rs 5.95 lakh crore in inexperienced vitality and different tasks in Gujarat over the subsequent 10-15 years because it appears to speed up the clear vitality enterprise by constructing giga-factories.

The oil-to-telecom conglomerate will make investments Rs 5 lakh crore within the state to arrange 100 gigawatts (GW) renewable vitality energy plant and inexperienced hydrogen ecosystem growth, the agency mentioned in a press release.

It should make investments one other Rs 60,000 crore in organising 4 giga-factories for manufacturing photo voltaic PV module, electrolysers used for hydrogen era, energy-storage batteries and gasoline cells.

“RIL will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells,” learn the assertion. 

Moreover, Reliance will make investments Rs 25,000 crore in current tasks and new ventures over the subsequent 3 to five years. RIL has additionally proposed to take a position Rs 7,500 crore over 3 to five years for Jio Community up-gradation to 5G and one other Rs 3,000 crore over 5 years in Reliance Retail.

“RIL signed MoU today with the Government of Gujarat for a total investment of Rs 5.95 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the state,” the agency mentioned within the assertion.

In session with the Gujarat authorities, the corporate has began the method of scouting land for a 100 GW renewable vitality energy challenge in Kutch, Banaskantha and Dholera.

The corporate is looking for 4.5 lakh acres of land in Kutch.

“RIL will develop an ecosystem 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,” the assertion mentioned.

“RIL’s initiatives for decarbonisation and creating a green ecosystem emanate from the vision of Prime Minister Narendra Modi.”

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