Reliance to Invest Rs 65,000 Crores in AP; MoU Signed in the Presence of CM Chandrababu

Andhra Pradesh Chief Minister N Chandrababu Naidu said that 500 CBG plants in AP will provide fuel to 9.38 lakh Light Commercial Vehicles per day.

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu said that Reliance Energy is ready to invest Rs. 65,000 crores in the state and an MoU has been signed between Reliance and the state government to establish 500 CBG (Compressed Biogas) plants in the next 3 years.

CM Naidu said that the project will materialize at a cost of Rs. 130 crores for each plant and suggested the project should be taken in the spirit of 'AP the speed of doing business'.

The CM said that cultivation of crops useful in CBG plants will help farmers earn Rs. 30,000 per acre. He said that 500 CBG plants will provide fuel to 9.38 lakh Light Commercial Vehicles per day. Also, they will use 110 lakh metric tons of fermented organic matter which will reduce the use of chemical fertilizers, he said. He said that Clean Energy Policy 2024 can already be brought in the state.

CM Naidu said that Reliance Energy is going to create 2.5 lakh jobs out of the total 7.5 lakh jobs through the policy. He congratulated Ministers Nara Lokesh, Gottipati Ravi and TG Bharat for their hard work in achieving Reliance investments. The CM thanked Reliance Chairman Mukesh Ambani for investing in the state.

Establishment of biogas plants in 8 districts: Minister Nara Lokesh explained that biogas plants will be started from Prakasam district. At present Reliance company will set up biogas plants in 8 districts, he said. He said that the construction of biogas plants will be completed within three years.

The biogas plants will increase employment opportunities for the local residents, Minister Lokesh said and added that the government will provide all kinds of support.