RIL signs MoU for Rs3.05 lakh crore investment in Maharashtra

Reliance Industries Ltd (RIL) will be investing a total of Rs3,05,000 crore in diverse sectors, including high-tech manufacturing, renewable energy, hospitality and retail, as part of its commitment made at the Davos economic forum.

The MoU was signed on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Anant Ambani, director of Reliance Industries Limited, has said.

In all the Devendra Fadnavis government in maharashtra has secured investment commitments to the tune of Rs9 lakh core at the Davos forum.

The Rs3.05 lakh crore investment, which is part of RIL’s commitment to building a new India, will also create 3 lakh new jobs in the state, according to Ambani.

Ambani expressed confidence in the Maharashtra government’s strategy of turning the state a $1 trillion economy in the shortest possible time, helping to propel India towards the $5 trillion plus goal in the next few years.

Chief minister Devendra Fadnavis termed the MoU as groundbreaking, adding that the Maharashtra government has so far signed over 50 MoUs with various business houses, including Tata Group, Ceat, Essar, Bharat Forge, Welspun Corp, Olectra Greentech, as also foreign investors, at the WEF in Davos. 

The Tata Group has proposed to invest up to Rs30,000 crore, while Essar Renewables signed Mou for Rs8,000 crore investment, UPL committed investment of Rs6,500 crore, Powerin Urjaa signed MoU for Rs15,300 crore investment in renewable energy and Olectra Greentech proposed to invest up to Rs3,000 crore in EV related business.