HYDERABAD: The Reliance Group signed MoUs with Andhra Pradesh government on the second day of the CII Partnership Summit. The Reliance Group will invest Rs 50,000 crore in the electronics, the IT and in the petroleum sectors.
Ambani said his company Reliance Industries Ltd (RIL) invested Rs15,000 crore in setting up electronics park at Tirupati and the new capital city of Amaravati.
An institute of excellence would be set up at Amaravati, which will be a hub of innovation, incubation and start-ups.
In Tirupati, the unit will have the capacity to manufacture one million cell phones.
“This will revolutionize the IT and the ITES industry and will be a huge step forward in making AP a hardware hub. The institute will be the best in India and on par with global standards.The Reliance also proposed to invest Rs. 35,000 crore in the oil and gas sector in phases. “These will generate 25,000 jobs in the years to come,” Chief Minister N. Chandrababu Naidu said.