Reliance Group to invest Rs.46,000 crore in Madhya Pradesh

The Reliance Group on Thursday said it will make fresh investments of up to Rs.46,000 crore in diverse range of sectors like defence, information technology, electronics and energy in Madhya Pradesh.

According to a company release, the announcement for fresh investments came after Reliance Group's chairman Anil Ambani met Madhya Pradesh Chief Minister Shivraj Singh Chouhan here.

"Madhya Pradesh has become the growth centre now. Reliance Group will invest in defence production sector at Pithampur and Bhopal. An Integrated Land System Defence Manufacturing Hub will be developed at Pithampur and Rotary Wing Helicopter Manufacturing Unit at Bhopal," Ambani said.

"About Rs.6,000 crore will be invested in energy and defence production sectors. Global-level data storage centres will be set up by the Group in the state in information technology sector. For this, Rs.1,500 crore will be invested at Pithampur," he added.

The chief minister said every possible effort was being made to promote investments in the state.

"Investment-friendly policy has been implemented. Special attention is being paid to increase job opportunities along with promotion of industries. Investors will not be allowed to face any difficulty in the state," Chouhan said after the meeting.

The group will set up a unit at Pithampur to produce polysilicon ingot required to manufacture solar panels at a cost of Rs.27,000 crore.

Also, the group will expand Sasan power project with an investment of about Rs.12,000 crore.

These projects will generate about 70,000 direct and indirect jobs.

Furthermore, the group chairman shared a proposal to start campus of management institute named ISB at Bhopal.

The group, which has already invested Rs.35,000 crore in cement, telecom and financial services sectors in the state, has taken up nearly 400 acres of land at Pithampur and 70 acres at Bhopal.