UP investors summit: RIL to invest Rs10,000 crore over next 3 years, says Mukesh Ambani

Mumbai: Reliance Industries Ltd (RIL) will invest Rs10,000 crore in Uttar Pradesh over the next three years, chairman and managing director Mukesh Ambani said at the Uttar Pradesh Investors’ Summit on Wednesday.

RIL’s telecom venture Reliance Jio Infocomm has over the years invested Rs20,000 crore in UP. Also, Jio will make available over 20 million JioPhones in UP within the next two months on a priority basis, Ambani said.

JioPhones are 4G phones available for a refundable deposit of Rs1,500 a month.

In addition, RIL will create over 100,000 sustainable livelihood opportunities in the state in the coming years.

“Along with other businesses of Reliance such as retail, polyester and petroleum, Jio will create over one lakh sustainable livelihood opportunities in the state in the coming years. Jio has already created over 40,000 direct and indirect jobs in UP,” Ambani said.

The company will also establish a Centre for the Fourth Industrial Revolution on the campus of a reputed university in Uttar Pradesh. Ambani did not name the university.

RIL shares were trading at Rs927.90, up 0.92% on the BSE, while the Sensex was up 0.29% at 33,801.49 points at 12.30pm.

RIL said on 18 February that it will invest, along with its global partners, over Rs60,000 crore in the next 10 years in Maharashtra, to set up the country’s first integrated industrial area.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.