Reliance to invest Rs 75,000 cr in UP in four years: Mukesh Ambani

Reliance to invest Rs 75,000 cr in UP in four years: Mukesh Ambani

Reliance Industries Chairman Mukesh Ambani. ANI

Lucknow: Reliance Industries Chairman Mukesh Ambani on Friday said the company will invest Rs 75,000 crore over the next four years in expanding the telecom network, including roll out of 5G services, retail and new energy business in Uttar Pradesh.

Speaking at the UP Global Investors Summit 2023 here, Ambani said his group’s telecom arm Jio will roll out 5G services across the state by December 2023.

“Reliance plans to invest an additional Rs 75,000 crores in the next four years across Jio, retail and renewable businesses in UP, creating an additional over 1 lakh jobs in the state,” he said.

He added, “Jio will complete its roll-out of 5G to cover every town and village in Uttar Pradesh by December of 2023”.

Also, the oil-to-telecom conglomerate will set up 10 GW of renewable capacity and start a bio-energy business in the state, he noted.

Ambani said that this year’s Budget has “laid foundation for India’s emergence as a developed nation.”

“It stands out for its highest-ever resource allocation for building the foundation for the country’s growth in terms of capital expenditure. India is on a very strong growth path,” he said.

(With inputs from agencies)

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