Mukesh Ambani runs India's most valuable company, Reliance. He continues to expand his business even in new sectors. Now, his Rs 17.23 lakh crore company, Reliance Industries Ltd (RIL), is set to invest Rs 65,000 crore in Andhra Pradesh. The company will be setting up 500 compressed biogas plants (CBG) over the next five years, ET reported. This will be the biggest investment by the company outside Gujarat under its clean energy initiative.
This initiative is part of Reliance's clean energy programme, which is led by Mukesh Ambani's son Anant Ambani. The new project by Reliance is expected to generate direct and indirect employment opportunities for 250,000 people, based on estimates by the Andhra Pradesh government. The CBG plants, each involving an investment of Rs 130 crore, will be set up on wasteland in the state, as per the report.
The plan was finalised during a meeting in Mumbai between Anant Ambani and Andhra Pradesh IT Minister Nara Lokesh. A memorandum of understanding (MoU) will be signed soon regarding the project.
Meanwhile, Mukesh Ambani is still the richest man in Asia despite a decline in shares of his Reliance Industries these days. According to Forbes, he has a real-time worth of USD 99.7 billion. He is currently at the 17th spot on the Forbes billionaires list.
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