ADAG proposes to invest Rs 55,000 crore in Orissa

Group chairman Anil Ambani announced plan of setting up power plants, a health city and an IT project in the state.

Reliance Anil Dhirubhai Ambani Group on Friday proposed Rs 55,000 crore investment in Orissa for setting up power plants, a health city and an IT project.

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"We are proposing 12,000 mW power generation with an outlay of Rs 50,000 crore," Group Chairman Anil Ambani said after meeting Chief Minister Navin Patnaik.

The development would be in phases of 4000 mW all the way up to 12,000 mW.

Orissa has 61 billion tonnes of coal reserves, which can sustain power generation capacity of up to 1,00,000 mW for a century, Chief Minister Naveen Patnaik said.

Ambani said that in order to make India an economic superpower the group has decided to pursue opportunities in Orissa, which is blessed with coal reserves and could be the power hub of the country.

"I am sure over the next few decades Orissa will have its rightful place in India as an economically developed state," Ambani added.