Reliance to invest Rs 1 lakh crore in Andhra
Reliance Industries plans to invest Rs 1 lakh crore in Andhra Pradesh to set up compressed biogas plants, creating more than 3 lakh jobs and generating nearly Rs 60,000 crore in revenue for the state over the coming decades, the company’s executive director Anant M Ambani said on Friday.
Speaking at the foundation stone laying ceremony for the Rayalaseema Horticulture Hub and Indian School of Agriculture in Madanapalle, Ambani said the investment would support the state’s transition towards cleaner energy while creating new opportunities for farmers.
“Our kisans, who ensure India’s food security, will now strengthen India’s energy security too - making India self-reliant in energy,” he said. “That is why Reliance Industries is grateful to the Government of Andhra Pradesh for the opportunity to invest Rs 1 lakh crore in the state to set up compressed biogas (CBG) plants.”
CBG is a renewable fuel produced by processing organic waste such as agricultural residue, animal dung, food waste and other biomass into methane-rich gas that can be used as a cleaner alternative to conventional natural gas, including in transport, industry and commercial applications.
Beyond reducing waste and emissions, CBG can help cut dependence on imported fossil fuels, create new markets for agricultural and organic waste, generate rural jobs and income, and support a more circular economy by converting waste into energy and nutrient-rich bio-manure.
