Reliance to invest ₹50,000 crore in Assam in next 5 years: Mukesh Ambani
Mukesh Ambani noted how Reliance group's investment in Assam has exceeded ₹12,000 crore since its earlier commitment of ₹5,000 crore in the 2018 summit.
Reliance Industries Limited (RIL) chairman and managing director Mukesh Ambani on Tuesday announced that his conglomerate has committed to investing ₹50,000 crore in Assam over the next five years.
Addressing the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati, Mukesh Ambani highlighted the Reliance group's long-term commitment to the state's development, especially in the technology and digital sectors.
"In the coming years, Reliance will more than quadruple its investment in Assam to over ₹50,000 crore," the RIL chairman said.
‘AI data centre, food park, Oberoi hotel’
Mukesh Ambani said that the conglomerate would also establish an artificial intelligence (AI) data centre, mega food park, and a seven-star Oberoi Hotel. Mukesh Ambani emphasised on Reliance's priority of making Assam "tech-ready and AI-ready", terming the state's digital transformation a "noble and patriotic mission".
Mukesh Ambani noted that Jio also played a major role in modernising the state's telecom infrastructure, freeing it from 2G and empowering it with 5G network.
Ambani also noted how the company had earlier committed an investment of ₹5,000 crore in the 2018 summit and pointed out how Reliance has since then exceeded ₹12,000 crore in investments in Assam.
"Reliance will establish an AI-ready Data Centre in Assam. With this, students will benefit from AI-assisted teachers. Patients will benefit from AI-assisted doctors. Agriculture will benefit from AI-assisted farmers. And AI will help Assam's youth to learn from home and earn from home," Ambani said, a Business Today report said.
In addition, the Reliance group will also contribute towards making Assam the hub of clean and green energy, in accordance with the government's new policy. Ambani said that his company would build two top-notch hubs of Compressed Biogas (CBG) over a wasteland in the state. "These will produce 8 lakh tonnes of clean biogas annually, enough to fuel 2 lakh passenger vehicles every day," Mukesh Ambani added.
A Mega Food Park will also be set up in the state with an aim to add value to the produce from Assam's vast agriculture and horticulture practices. "We have already set up a world-class bottling plant in Assam for Campa and an independence range of packaged drinking water," Ambani was cited as saying.
To level-up Assam's hospitality sector, the conglomerate will also be building a seven-star Oberoi hotel in the heart of the state, he noted.
On top of all this, the number of Reliance Retail stores in the country will also be reportedly doubled from around 400 to 800 stores in the next five years.
Ambani praises PM Modi
Mukesh Ambani also praised Prime Minister Narendra Modi's leadership, saying that the summit's theme reflects the transformation the state has witnessed under his governance.
Mukesh Ambani pointed out four key advantages that PM Modi has brought to Assam. First, Assam and rest of the northeast region has been brought to the centre of India's development map. Second, Assam has received a new inspiring mantra of 'Act East, Act Fast, and Act First'. Third is the "unprecedented connectivity revolution" in Assam and the Northeast. The fourth and most important advantage, Ambani said, is the emphasis that has been placed on technology as a key driver of development. Ambani expressed that in the coming decades, the state will also emerge as a "technological paradise".
Vedanta Group to also invest ₹50,000 cr
Additionally, Vedanta Group chairman Anil Agarwal also announced that his firm will invest ₹50,000 crore in Assam and Tripura's oil and gas sector over the next three to four years.
Speaking at the Advantage Assam summit, the chairman of the mining major said that his group firm Cairn Oil and Gas has already invested around ₹2,500 crore in the two northeastern states.
"Assam has abundant natural resources and potential to become the world's mega basin. We are poised to play a pivotal role in Assam's sustainable growth and development," he said.
He said that with the latest investment commitment, his company will produce 1,00,000 barrels of oil and gas per day, making the region dominant hub for hydrocarbon. "It will also create direct and indirect employment opportunities for 1 lakh youths," Agarwal added.
(with inputs from agencies)