Reliance Group of Mukesh Ambani has signed pacts with the Andhra Pradesh Government for investments worth ?50,000 crore in the electronics, IT and petroleum sectors, in phases. The company has signed MoU in this regard on the second day of the Confederation of Indian Industry (CII) partnership summit. Reliance Jio will invest – Rs. 15,000 crore in setting up electronics parks in Tirupati and Amaravati, the new capital city. An institute of excellence will be set up at Amaravati, which will be a hub for innovation, incubation and start-ups. The unit at Tirupati will have the capacity to manufacture one million cell phones. In the petroleum sector, Reliance proposes to invest ?35,000 crore in phases.
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