Reliance to invest Rs 75,000 Cr in UP in 4 yrs: Mukesh Ambani

Billionaire Mukesh Ambani on Friday announced a Rs 75,000 crore investment over the next four years in expanding the telecom network, including the roll out of 5G services, retail, and new energy business in Uttar Pradesh.

Speaking at the UP Global Investor Summit, he said his group's telecom arm Jio will roll out 5G services across the state by December 2023.

Also, the oil-to-telecom conglomerate will set up 10 GW of renewable capacity and start a bio-energy business in the state, he added.

The Uttar Pradesh Global Investors Summit 2023 is held from February 10-12. It is the flagship investment summit of the Uttar Pradesh government.

Prime Minister Narendra Modi on Friday inaugurated the Uttar Pradesh Global Investors Summit 2023 in Lucknow on Friday.

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"I welcome all investors to this Summit. Today, Uttar Pradesh is known for good governance, peace, law and order, and stability," the prime minister said.

The summit will bring together policymakers, industry leaders, academia, think tanks, and leaders from across the world to explore business opportunities and forge partnerships.

"Along with infrastructure, UP has changed its 'Soch and Approach' for ease of doing business. It is driving the growth of New India. From electricity to connectivity, there has been improvement in every field. The state is witnessing holistic development," Modi said at the summit.

Union Defence Minister Rajnath Singh, Uttar Pradesh Governor Anandiben Patel, and Chief Minister Yogi Adityanath were also present on this occasion.

(Disclaimer: Additional information was added to the copy.)