Reliance Plans Rs 60,000 Cr Digitial Industrial Area in Maharashtra

Billionaire industrialist Mukesh Ambani yesterday said his firm Reliance Industries Ltd (RIL) and its global partners will set up the country's first integrated digital area in Maharashtra entailing investments of Rs 60,000 crore.

"Reliance, along with other global companies will invest over Rs 60,000 crore in the next 10 years in Maharashtra, which will be the first integrated digital industrial area in the country," Ambani said at the opening day of the Magnetic Maharashtra investor summit in at the Mumbai Metropolitan Region Development Authority (MMRDA) grounds at Mumbai's Bandra Kurla Complex (BKC).

He did not offer more details like the location of the proposed mega investment or when the first phase will begin. The summit is was inaugurated by Prime Minister Narendra Modi.

Ambani said RIL has received an overwhelming response from global technology companies to invest in this project. "Within a few weeks, more than 20 global companies have already agreed to invest with us. These companies include Cisco, Siemens, HP, Dell, Nokia, and Nvidia among others," Ambani said.

He said what China could achieve with its manufacturing revolution, India can achieve much more and quickly in this services-led fourth industrial revolution.

The new investments announced to come on back of close Rs 1.4 trillion RIL has pumped into building one of the fastest telecom networks in the country with his Reliance Jio network, which has catapulted the country into the worlds no. 1 data consumer nation from being 155th before the launch.

Inputs From PTI