AP govt signs MoU worth Rs 65,000 cr with Reliance Industries for investment in CBG projects
Nov 12, 2024
Amaravati (Andhra Pradesh) [India], November 12 : The Andhra Pradesh government on Tuesday signed a Memorandum of Understanding with Reliance Industries securing a Rs 65,000 crore investment in Compressed Bio Gas (CBG) projects.
"Today, the GoAP has signed a landmark MoU with Reliance Industries, securing a Rs65,000 Cr investment for Compressed Bio Gas (CBG) projects. This partnership is set to generate 2.5 lakh employment opportunities in our state," Chief Minister Chandrababu Naidu said in a post on X.
The Chief Minister informed that out of Reliance's national target of 2,000 CBG plants, 500 state-of-the-art CBG plants will be built throughout Andhra Pradesh over the next three years.
"This will make our state a frontrunner in clean energy and sustainable development. With Reliance's commitment to enhancing lives and livelihoods in AP, this partnership will also drive growth across multiple sectors. By attracting such transformative investments, our Integrated Clean Energy Policy is proving instrumental in positioning our state as a preferred destination for industries - a swing in AP's favour," he added in the post.
Meanwhile, Chandrababu Naidu expressed confidence in achieving a 15 per cent growth rate by formulating and implementing various plans.
"Creating wealth is possible only by providing various kinds of opportunities following which the living conditions of the poor can be increased by distributing this wealth to them," Chandrababu Naidu said while interacting with various industrial giants during a Task Force meeting on the steps to be taken to achieve the goal of Vision-2047 on Monday.
Recalling that a 13.5 per cent growth rate was achieved during the previous TDP regime, the Chief Minister expressed confidence that now 15 per cent growth rate will certainly be achieved.
Making it clear that the State Government will certainly take the decisions to implement the necessary plans and policies to reach this target, Chandrababu said.
"Our mandate is to spearhead consultations, identify economic growth avenues, assess infrastructure needs, and recommend policy reforms to drive AP's transformation. To achieve our growth target for Andhra Pradesh, we have identified several key priorities across various sectors, spanning infrastructure, entrepreneurship, skills development, MSMEs and manufacturing. The Taskforce shall chart a comprehensive roadmap to drive substantial growth by 2030 and 2047, attract new investments, and position Andhra Pradesh as a leader in economic advancement, laying the foundation for long-term prosperity," CM Naidu said.
