ADAG to invest Rs 12K cr in Tamil Nadu

Industrialist Anil Ambani's group plans to set up a 1,000 MW power plant, IT park and desalination project in Chennai.

Industrialist Anil Ambani on Saturday promised that his group would invest Rs 12,000 crore for setting up a 1,000 MW power plant, IT park and desalination project in the Tamil Nadu capital, besides look at establishing a special economic zone.

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"The power plant would come up at North Chennai... The desalination plant would be capable of meeting 30 per cent of the city's drinking water requirements," he told reporters after calling on Chief Minister M Karunanidhi at the Secretariat here.

Both these plants would be set up at a cost of Rs 10,000 crore, said Ambani, whose ADA Group has diversified business interests ranging from infrastructure to finance to media and telecom.

Besides, Reliance Communications would set up an IT Park in the city, which would have a Convention Centre on par with international standards. The project would cost Rs 2,000 crore, he said.

Ambani, who appreciated the investment climate in the state, said that he had discussed the projects with the Chief Minister and that they could be implemented quickly with the support of the state government.

He also said he was happy to visit the metropolis after a gap of 10 years.