Reliance to invest Rs 40,000 cr for 5G rollout in AP
Billionaire Mukesh Ambani on Friday announced plans for setting up a 10 gigawatt solar plant in Andhra Pradesh as his oil-to-telecom conglomerate bets big on renewable sources which can be converted into carbon-free green hydrogen.
Speaking at the Andhra Pradesh Global Investors Summit, Ambani, Chairman and Managing Director of Reliance Industries Ltd, said his group is investing Rs 40,000 crore for rollout of ultra-high speed 5G telephony network in the state.
“This morning, I am happy to announce that we will continue our investments and we will invest in 10 gigawatt of renewable solar energy in the state of Andhra Pradesh,” he said without giving investment details.
Reliance had in 2021 announced plans to create by 2030 capacity to generate at least 100 GW of electricity from renewable sources, which can be converted into carbon-free green hydrogen. It is also investing in setting up giga-factories to manufacture components for the green energy value chain.
Ambani said his company has invested more than Rs 1.5 lakh crore in developing oil and gas discoveries it made off the Andhra coast and in supporting gas pipeline infrastructure to transport the fuel to consumers.
Gas from Reliance’s KG-D6 block in the Bay of Bengal contributes nearly 30 per cent of of all gas production in the country, he said. “This is just an example of how important Andhra is to the India story. And how deeply Reliance is invested in the Andhra story.” Reliance Jio, the group’s telecom arm, is rolling out what it called a ‘True 5G’ network.
“We are creating the largest and the best digital network footprint in the state by investing over Rs 40,000 crore. Our 4G network covers 98 per cent of Andhra Pradesh’s population, including those living in the remotest corners of the state.
“The rollout of Jio’s True 5G will be completed before the end of 2023 throughout India, including your state of Andhra Pradesh,” he said.
5G will trigger a new wave of digital revolution, creating large-scale business and employment opportunities.
Similarly, its retail arm has partnered with more than 1.2 lakh kirana merchants across 6,000 villages of Andhra Pradesh. “Reliance Retail will source significantly more agri and agro-based products and manufactured goods from Andhra Pradesh for sale all over India,” he said.
“I would like to assure you that Reliance will continue to be an unflinching partner to the people and the Government of Andhra Pradesh in your state’s all-around accelerated progress,” he added. PTI
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