Reliance to invest Rs. 20,000cr in Bengal over 3 years
What's the story
Mukesh Ambani, the chairman and managing director of Reliance Industries Limited (RIL), on Tuesday announced the company's intention to invest an additional Rs. 20,000 crore in West Bengal over the next three years.
During the seventh Bengal Global Business Summit, Ambani pledged, "Reliance will leave no stone unturned to accelerate West Bengal's growth."
The new investment will focus on three sectors: digital life solutions, retail, and bio-energy.
Details
Jio's 5G rollout and smart home transformation
Ambani shared Jio's ambition to roll out India's fastest 5G network to cover a majority of Bengal by the end of 2023.
"We are taking the revolutionary power of 5G to every nook and corner of the state, particularly to enrich and transform rural Bengal," said Ambani.
He also envisions transforming every household in West Bengal into a smart home through the swift implementation of JioFiber and JioAirFiber, creating new job and entrepreneurial opportunities for millions in the state.
What Next?
Expansion of Reliance Retail and warehouse footprint
Meanwhile, Reliance Retail is also set to expand its presence in West Bengal, with plans to grow from nearly 1,000 retail stores to over 1,200 within the next two years.
Ambani mentioned that the company currently manages almost 20 lakh square feet of warehouses in Bengal.
This growth will further solidify Reliance Retail's presence in the state, offering more possibilities for local businesses and consumers.
Insights
Compressed biogas plants and agricultural support
Over the next three years, Reliance intends to set up 100 compressed biogas (CBG) plants in West Bengal.
These facilities will utilize 55 lakh tons of agricultural residue and organic waste, reducing nearly 20 lakh tons of carbon emissions and generating 25 lakh tons of organic manure annually.
Ambani announced, "We will also help farmers to grow energy plantations on a large scale."