Reliance Group set to invest Rs 46,000 crore in Madhya Pradesh | business | Hindustan Times
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Reliance Group set to invest Rs 46,000 crore in Madhya Pradesh

business Updated: Oct 22, 2015 23:00 IST
HT Correspondent
HT Correspondent
Hindustan Times
Anil Ambani

The Reliance Group is set to strengthen its presence in Madhya Pradesh with a Rs 64,000 crore investment.(HT Photo)

Strengthening its presence in Madhya Pradesh, the Anil Ambani-led Reliance Group will invest around Rs 46,000 crore in sectors such as defence, IT, electronics and energy.

Reliance Group chairman Anil Ambani met MP chief minister Shivraj Singh Chouhan on Thursday and discussed the modalities of setting up a maintenance centre for aircraft in Bhopal with an investment of Rs 5,000 crore, among other things.

The company had moved an application with the Audyogik Kendra Vikas Nigam (AKVN) Bhopal for the project and would shortly move an application for allotment of 70 acres of land near the airport with the same agency, sources said.

Chouhan also briefed Ambani about efforts being undertaken by the government with regard to implementation of the new investor-friendly policy aimed at enhancing investment climate in the state.

“The government will ensure that no problems come in the way of investments,” Chouhan said, adding that industries are being encouraged in the state in order to reduce people’s dependence on agriculture.

On his investment plans in the state, Ambani said the Reliance Group will invest in Pithampur industrial area near Indore and Bhopal in the defence sector, a company release quoted him as saying. “An integrated land system defence manufacturing hub in Pithampur and a rotary wing helicopter manufacturing unit in Bhopal will be set up with an investment of nearly Rs 6,000 crore,” a statement said.

In the area of information technology, the company will set up a world class data storage centre in Pitampur with an investment of Rs 1,500 crore. These units will be accorded facilities as offered in the special economic zone (SEZ) area, the release said. Pithampur, near Indore, is the industrial hub of the state and houses manufacturing facilities of many automobile majors.

The company will invest nearly Rs 27,000 crore for making ingots and poly-silicons used in solar panels. Besides, the group has plans to further invest Rs 12,000 crore in Sasan power project.

These projects will generate direct and indirect employment for nearly 70,000 people. The company has also proposed to set up management institute International School of Business (ISB) in Bhopal, the release said.

The group has already marked a significant presence in the state with investments worth Rs 35,000 crore in the areas of cement, telecom and financial services. Reliance will be allotted 400 acres of land in Pithampur.

(With agency inputs)