Speaking at a Global Investors’ Summit in Madhya Pradesh, Reliance ADAG chairman Anil Ambani has announced that the group will invest Rs.70 000 crore in projects in the state, including power, mining, cement, CBM and telecommunication.
The following were specified among these projects:
- 12 000 MW in power projects.
- A 25 million tpa capacity coal mine – this would be the country’s largest privately owned mine.
- 10 million tpa of cement production capacity, increasing to 20 million tpa.
The chairman further stated that the group plans to build the Dhirubhai Ambani Institute of Information and Communication Technology (DAIICT), to be located in Bhopal, the state capital.
The investment will provide a boost to the state’s economy, which is also benefiting from state spending of Rs.100 000 over the next five years.
Anil Ambani has been ranked by Forbes as the 6th richest person in India. His older brother, Mukesh Ambani, tops the list.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/27102010/reliance_adag_announces_massive_investment_in_madhya_pradesh/