Reliance Industries to invest Rs. 60,000 Crore in industrial area in Maharashtra

The country’s largest private sector enterprise Reliance Industries Ltd and all its global partners will be setting up the first integrated industrial area in Maharashtra. For this project, there will be an investment of Rs. 60,000 Crore stated Mukesh Ambani who is the chairman and managing director of Reliance Industries Ltd. On the opening day of the Global Investor’s Summit at Magnetic Maharashtra Convergence 2018 which is being organized in Mumbai, Ambani said that Reliance will invest Rs. 60,000 Crore along with other global companies in the next 10 years in Maharashtra in order to transform it into the country’s first integrated industrial area.

This event in the global investors’ summit in Maharashtra has a similar objective as that of the Prime Minister’s Make in India initiative. This investor’s summit was launched by Narendra Modi who also laid the foundation stone for the International Airport being set up in Navi Mumbai with an investment of Rs. 16,700 Crore. Ambani said that for setting up the integrated industrial area in Maharashtra, more than 20 global companies including Cisco, Siemens, HP, Dell, Nokia, Corning, and Nvidia have already agreed to co-invest with Reliance in the last couple of weeks. RIL plans to connect all the gram panchayats, colleges, hospitals and schools present in Maharashtra in the next two years so as to bring in the benefits of the digital revolution taking place through its telecom venture.

RIL has invested Rs. 2,50,000 Crore across India by far out of which Rs. 22,000 Crore have been allocated to Maharashtra. The problems arising in the socio-economic development in Maharashtra and India will be solved using the fourth industrial revolution. New employment opportunities will be generated as well through this scheme and the towns as well as cities will get transformed into smart towns and cities.