Ambani is now preparing to spend Rs 65,000 crore, where will he bet?

Mukesh Ambani News: Asia's giant businessman Mukesh Ambani, who has a strong presence worldwide with Reliance Industries Limited (RIL), is now going to take a big step in the clean energy sector. He has announced that his company will invest a huge amount of Rs 65,000 crore to set up 500 Compressed Biogas (CBG) plants in Andhra Pradesh in the next five years. This will be Reliance's largest clean energy investment outside Gujarat, and is likely to employ about 2.5 lakh people. Let's know the complete plan of this ambitious project.

Investment and objective of the plant

Under this plant project of Reliance Industries, each biogas plant will have an investment of about Rs 130 crore. These plants will be set up on barren and unused land of the state. According to the Andhra Pradesh government, these plants are expected to create 250,000 jobs directly and indirectly in the state. This investment will not only strengthen the economy of the state, but will also prove to be an important step towards clean energy.

Memorandum of Understanding (MoU) and government incentives

A memorandum of understanding (MoU) was signed between RIL and the state industries department for the investment plan in the presence of Andhra Pradesh Chief Minister N Chandrababu Naidu in Vijayawada on Tuesday. The state government has announced several incentives under the Integrated Clean Energy Policy for biofuel projects, including a 20% capital subsidy on capital investment in compressed biogas (CBG) for five years and full reimbursement of state GST and electricity duty.

250,000 jobs: A "game changer" for the state's youth

Andhra Pradesh IT Minister Nara Lokesh, who heads the state's sub-committee on job creation, reacted to the investment plan. He said the creation of 250,000 jobs would be a "game changer" for the state's youth. "Job creation is one of our key goals, and we have come up with several incentives in our clean energy policy to attract investors," he said.

Appreciating this investment, Lokesh said that Reliance is already investing heavily in the state, and with this new plan, the state will have even more development possibilities.

Farmers will benefit

Farmers are also likely to get significant benefits from this project of Reliance. According to sources, Reliance will rejuvenate barren land as well as train farmers to cultivate energy crops, which will increase their income. A government official said that under this deal, farmers will be able to increase their income by up to Rs 30,000 per acre annually. This will not only improve the economic condition of the farmers but will also generate a stable and profitable source of income for them.

Benefits of biogas plant

Andhra Pradesh will also get many financial and non-financial benefits through biogas plants. This will increase the production of clean energy in the state, which will help in environmental conservation. Also, it will be an important step towards making the state energy self-reliant. Apart from this, the project will also lead to the creation of employment and economic opportunities locally, which are essential for the development of the state.

Conclusion

Mukesh Ambani's Rs 65,000 crore investment is not only a significant economic opportunity for Andhra Pradesh, but it is also a big step towards clean energy in India's energy sector. Through this scheme, not only will employment opportunities increase in the state, but this project will also help in improving the environment. This investment by Reliance will also strengthen the economic condition of the state, and it can be seen as an ideal model of clean energy across the country.