Reliance to invest Rs 75K cr in UP in 4 yrs: Ambani

Reliance Industries Ltd will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years, its chairman Mukesh Ambani said on Friday.

Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting agriculture waste into gas which can be used as fuel in industries, run automobiles or light kitchen stoves.

Speaking at the Uttar Pradesh Global Investors Summit 2023 here, Ambani said his group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 months.

“We plan to invest an additional Rs 75,000 crore in UP over the next four years across Jio, retail, and renewable businesses,” he said.

“These new investments will create an additional over 1 lakh jobs in the state,” he added.

The investment will be in addition to Rs 50,000 crore already invested in the state.

Reliance Jio, the nation’s largest telecom company by subscribers, will complete its rollout of 5G to cover every town and village in the state by December 2023.

Stating that this will help modernise all areas of business and industry, agriculture, social sector, and governance, he said the company plans to do pilots on its two new innovative initiatives — Jio School and Jio AI Doctor — to bring top-class education and healthcare in the most affordable way to villages and small towns across Uttar Pradesh. Reliance Retail, he said, will revolutionise hundreds of thousands of kiranas and small stores across the State.