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HomeMarket NewsReliance Industries to invest ₹65,000 cr in AP for biogas plants
The Andhra Pradesh government and Reliance Group on Tuesday signed a deal worth ₹65,000 crore to establish 500 compressed biogas (CBG) plants in the state over the next three years.
By PTI November 12, 2024, 7:46:48 PM IST (Published)
The Andhra Pradesh government and Reliance Group on Tuesday signed a deal worth ₹65,000 crore to establish 500 compressed bio-gas (CBG) plants in the state over the next three years.
The agreement was inked in the presence of Chief Minister N Chandrababu Naidu, Minister for Energy Gottipati Ravi Kumar, and senior officials from Reliance Group at the state secretariat in Amaravati.
“Very happy to sign an MoU with Reliance. Highlights of the deal include the establishment of 500 CBG plants in the coming three years,” Naidu said in a statement from the Chief Minister’s Office (CMO).
According to the Chief Minister, the conglomerate will invest ₹130 crore per CBG plant, creating an estimated 2.5 lakh jobs.
Naidu also highlighted that the state stands to gain ₹57,000 crore over the next 25 years through SGST collections, electricity duty, and other revenue streams arising from this initiative.
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