As part of the investment promotion activity for the now-deferred 10th Vibrant Gujarat Global Summit 2022 (which was scheduled for January 10-12 in Gandhinagar), Reliance Industries (RIL) on Thursday signed a memorandum of understanding (MoU) with the Government of Gujarat for a total investment of Rs 5.95 trillion.
Though the investment pact is just a memorandum of understanding right now, it outlines the scope of Ambani’s green ambitions and is a big step up from the $10 billion (over Rs 73000 crore) investment over three years he had announced in June.
The MoU entails an investment of Rs 5 trillion in Gujarat over the next 10-15 years for setting up a 100-gigawatt (Gw) renewable energy power plant and green hydrogen ecosystem development to make the state net-zero and carbon-free.
