Reliance Industries plans Rs60,000 crore integrated industrial area in Maharashtra

Mumbai: Reliance Industries Ltd (RIL), India’s largest private sector enterprise, and its global partners will set up the country’s first integrated industrial area in Maharashtra with an investment of Rs60,000 crore, RIL chairman and managing director Mukesh Ambani said on Sunday.

“Reliance, along with other global companies, will invest over Rs60,000 crore in the next 10 years in Maharashtra, which will be the first integrated industrial area in the country,” Ambani said on the opening day of the Global Investors’ Summit at Magnetic Maharashtra Convergence 2018 being held in Mumbai. Ambani did not say where the integrated industrial area would be set up.

The event is Maharashtra’s first global investors summit, with an objective similar to the Prime Minister’s Make In India initiative.

Prime Minister Narendra Modi, who inaugurated the Investors’ Summit, also laid the foundation stone for the Navi Mumbai International Airport where state-run City Industrial Development Corporation (Cidco) and the GVK Group are building the Navi Mumbai International Airport with an investment of Rs16,700 crore.

As part of establishing the integrated industrial area in Maharashtra, Ambani said that in the last couple of weeks, more than 20 global companies have already agreed to co-invest with Reliance. They include Cisco, Siemens, Corning, HP, Dell, Nokia and Nvidia. “I firmly believe that what China could achieve with its manufacturing revolution, India can achieve much more—and much more quickly—with the businesses and services of the fourth industrial revolution,” Ambani added.

Through its telecom venture Reliance Jio Infocomm, RIL plans to connect every gram panchayat, school, college and hospital in Maharashtra in the next two years to bring the benefits of the digital revolution to the last person in society, Ambani said, adding that RIL has so far invested Rs2,50,000 crore across India, of which the highest investment is in Maharashtra at Rs22,000 crore.

“The fourth industrial revolution will help Maharashtra and India solve the most difficult problems in socio-economic development: in healthcare and education; in water security and environmental security; in boosting agriculture production; in making all our towns and cities smart, and also all our villages smart, in addition to generating new employment opportunities for the youth of Maharashtra, and the youth of India,” Ambani added.livemint