Reliance Industries
Reliance Industries has said that it will invest Rs 65,000 crore to set up a 500’Pampressed Biogas’ in Andhra Pradesh. The foundation stone of the first of these the plant was on Wednesday. The company said in a statement that Andhra Pradesh’s Information Technology and Electronics Minister Nara Lokesh laid the foundation stone for the first Reliance Compressed Biogas (CBG) plant in Kanigiri in Prakasham district of the state. Reliance said, “The project is being developed with capital investment of Rs 139 crore. This is the first plant towards setting up 500 plants for Andhra Pradesh at a total capital expenditure of Rs 65,000 crore. ”
Income of farmers will increase
The plant will be developed with new technology and it will use napier or long grass (elephant grass) grown on barren and useless ground to produce biogas. As a result of this project, farmers will be able to create important livelihood opportunities in the rural economy through a certain price for the payment of lease revenue and the grass grown by them.
2,50,000 jobs will be born
The company said, “Reliance has started an important journey to set up integrated CBG centers in Andhra Pradesh. About five lakh acres of barren and useless land will be used for this purpose in Prakasham, Anantapur, Chittoor and Kadappa. “Once all the plants are fully operational, they will produce 4 million tonnes of green, clean CBG and 11 lakh tonnes of organic fertilizers annually. This initiative is expected to produce 2,50,000 jobs for rural youth. Reliance Executive Director PMS Prasad said, “We consider this project to be more than energy production.” This will open the way for people’s progress and promote local economies. At the same time, it will carry forward the clean energy ambitions of Andhra Pradesh. ”
Latest business news
