TLI Staff
Lucknow: Promising to invest Rs 75,000 crore over four years in the most-populous state of Uttar Pradesh, billionaire Mukesh Ambani on Friday said that his telecom business arm Jio will expand 5G network to each and every town of the state by end of 2023.
“Today, I am happy to announce that we plan to invest an additional Rs 75,000 crore in UP over the next four years across Jio, Retail, and Renewable Businesses.
These new investments will create an additional over 1 lakh jobs in the state,” said Ambani who is the 10th richest person in the world as per Forbes billionaire list.
Ambani, Chairman and Managing Director (CMD) of business conglomerate Reliance Industries Ltd (RIL), was speaking at Uttar Pradesh Global Investor Summit 2023 in Lucknow.
He said that when he last visited the summit in 2018, Reliance was just beginning its journey in Uttar Pradesh and had committed to be a reliable partner to Uttar Pradesh.
“True to our word, from that day till now we have invested Rs 50,000 crores in Uttar Pradesh,” he said adding that the conglomerate had created over 80,000 direct and indirect jobs in the state.
The RIL Chief said that the group will increase sourcing of a wide range of agriculture and non-agro products from the state.
“It will benefit our hard-working kisans, local artisans, craftsmen, MSMEs, as well as the supply-chain ecosystem in UP,” he said.
In new energy segment, Reliance will set up 10 GW of green energy capacity and also start new bio-energy business.