Reliance to invest in Andhra Pradesh: Mukesh Ambani

Visakhapatnam: Mukesh Ambani, the Chairman of Reliance Industries, announced today that the company will invest in developing 10 gigawatts of solar energy capacity in the state of Andhra Pradesh. Ambani spoke about the importance of renewable energy in India's clean energy transition and emphasized the role that Reliance Industries aims to play in this transition. In addition to the company's investment in solar energy, Ambani also spoke about the potential of the blue economy in Andhra Pradesh. He praised the leadership of Chief Minister YS Jagan Mohan Reddy and highlighted the state's growth under his visionary and youthful leadership. Ambani noted that Andhra Pradesh is among the best states in India in terms of economic growth and ease of doing business. He commended the energy, enthusiasm, and ambition of the state's youth, as well as the hope, optimism, and dynamism of the business community. Speaking at the Global Investors Summit 2023 in Visakhapatnam, Ambani expressed his confidence that Andhra Pradesh will emerge as a leading player in India's growth story. He highlighted Reliance's long-standing presence in the state and noted that the company's oil and gas exploration team found gas in the KGD six basin of the state in 2002. Ambani added that Reliance has invested over 150,000 crores in developing and supporting gas pipelines in the region. Today, the natural gas produced by Reliance in the KGD six basin is contributing to India's clean energy transition and will account for nearly 30% of India's gas production.