Reliance and Adani To Invest In Gujarat. Two investments in Gujarat: Ambani invests Rs 5.95 lakh crore in green energy, Adani invests Rs 37,000 crore in steel.
As part of its investment promotion activities for Vibrant Gujarat Summit 2022, Reliance Industries Ltd. has raised Rs. A MoU was signed with the Gujarat government on Thursday for an investment of Rs 5.955 lakh crore. The projects are expected to create about 1 million direct and indirect employment opportunities in Gujarat. To make Gujarat Net Zero and Carbon Free, Reliance Industries Ltd. has allocated Rs. 5 lakh crore
Reliance will develop ecosystems to support small and medium enterprises (SMEs) and encourage entrepreneurship to adopt new technologies and innovations leading to captive use of renewable energy and green hydrogen. The Adani Group, led by businessman Gautam Adani, has entered into an agreement with South Korean company POSCO to set up a steel plant at Mundra in Kutch. The two companies will invest Rs 36,950 crore for this. Both companies signed the MoU.
According to the Adani Group, the two groups will cooperate in various fields, including renewable energy, hydrogen and logistics. Adani Group Chairman Gautam Adani said the agreement would give a boost to the manufacturing sector in India. Posco CEO Jong Wu Choi said the agreement would benefit Posco’s state-of-the-art steel-making technology and Adani’s expertise in the energy and infrastructure sectors.
Reliance demanded 4.5 lakh acres of land in Kutch
In consultation with the Gujarat government, Reliance has started land acquisition in Kutch, Banaskantha and Dholera for setting up 100 GW renewable energy power projects. The company has demanded 4.5 lakh acres of land in Kutch. An additional Rs. 60,000 crore investment in New Energy Manufacturing – Integrated Renewable Manufacturing Solar PV. Will set up a facility including module, electrolyzer, energy storage battery, fuel cells, etc.
In addition, to upgrade the Geo network to 5G, Rs. 7,500 crore, Reliance Retail Rs. 3,000 crore and Rs. Has proposed to invest Rs 25,000 crore.