According to sources Reliance Industries Ltd plans to invest Rs 55,000 crore in Andhra Pradesh in energy and digital infrastructure sectors over next five years. Meanwhile the officials said the Mukesh Ambani-led group signed MoUs for this purpose with the Andhra Pradesh government on Sunday, the second day of the CII Partnership Summit.
Meanwhile the India Gas Solutions Private Ltd, a 50:50 joint venture company of Reliance Industries Limited (RIL) and BP International Ltd (BP) in the business of marketing gas and LNG in India, signed a MoU with the state government. Accordingly RIL and BP plan to develop offshore gas discoveries in Block KGD6 in the Krishna Godavari basin, through three projects with investments up to Rs 40,000 crore.
Presently the development of the three projects is expected to
bring a total of 30-35 million cubic metres (1 billion cubic feet) of gas a day
of domestic gas production on stream, phased over 2020-2022 and will create
considerable direct and indirect employment during the construction phase over
the next 5 years. Furthermore the energy sector alone accounts for investment
of Rs 64,000 crore. Nine MoUs worth Rs 9,341 crore were signed in aerospace and
defense sectors.
