Reliance Group strengthens presence in MP, to further invest Rs 46,000 crore

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.

The company has also decided to set up a Rotary Wing Helicopter Unit in Bhopal.

In a meeting with state Chief Minister Shivraj Singh Chouhan here, the Reliance Group Chairman committed to invest Rs 46,000 crore in key areas like defence, information technology, electronics development and energy, an official release 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.

Madhya Pradesh government will ensure that no problem will come in the way of investments, Chouhan said adding that industries are being encouraged in the state in order to reduce people's too much 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, the 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," it 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.

The company will invest nearly Rs 27,000 crore for making ingots and polysilicons 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 and invested Rs 35,000 crore in the areas of cement, telecom and financial services.

Reliance will be allotted 400 acres of land in Pithampur and 70 acres in Bhopal for its projects.