Reliance Industries Ltd and its partners plan to invest a total of Rs 55,000 crore in Andhra Pradesh. Reliance will invest Rs.37,000 for oil and gas venture i.e., $6 billion and Rs.15,000 for electronics manufacturing near Tirupati.
These ventures are expected to create 25,000 jobs over the next few years, the CM Chandrababu has announced. These jobs will be in electronics, petroleum, retail, agri-processing, e-governance and other sectors.
The MoUs were signed by Reliance president Kiran Thomas and AP government’s principal secretaries Ajay Jain and K. Vijayanand in the presence of Chandrababu Naidu on the second day of the Partnership Summit in Visakhapatnam.
On the first day of the Summit, the government had signed 79 MoUs that can bring in investments worth Rs 44,246 crore and create 98,291 jobs.
Also, Reliance will develop offshore gas infrastructure in the Krishna-Godavari Basin in East Godavari district, in association with BP International. Moreover, Reliance Jio will establish an electronics manufacturing park near Tirupati in Chittoor district to manufacture mobile phones and set-top boxes.
This will be set up on a 150 acre site and Mukesh Ambani, during his meeting with the chief minister, wanted the state government to promote clusters of educational institutions like ITIs and diploma colleges in the vicinity to create employment right after education.