labels: economy - general, reliance industries
Reliance to invest Rs4,000 crore in West Bengal news
21 June 2006

Reliance Industries proposes to invest up to Rs4,000 crore in West Bengal for setting up a state-wide agro-retail chain and for bringing natural gas from the east coast. RIL chairman Mukesh Ambani made the announcement in Kolkata on Wednesday after a meeting with chief minister Buddhadeb Bhattacharjee at the secretariat.

Ambani, who flew in here earlier in the day to work out his invesment plan, said that Rs1500-2,00 crore would be invested in setting up the agro-retail chain while an equal amount would be spent on bringing natural gas to the state from the Andhra and Orissa coasts.

RIL had on Monday signed a pact with Haryana State Industrial Development Corporation (HSIDC) for setting up a Rs25,000 crore Special Economic Zone in Haryana. RIL is floating a joint venture, to be called Reliance Haryana SEZ Private Limited, to set up the project. RIL is expected to hold 90-per cent stake in the JV with HSIDC holding the rest.

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Reliance to invest Rs4,000 crore in West Bengal