Mukesh Ambani-led RIL's BIG update on Rs 65,000 crore project, starts building 1st plant in Andhra Pradesh; project to create THESE many jobs

Billionaire Mukesh Ambani-led Reliance Industries (RIL) has shared an update on its project comprising hundreds of Compressed Bio Gas (CBG) plants in Andhra Pradesh. The ambitious project is set to create a large number of jobs for the state's youth.

RIL is developing integrated compressed bio gas (CBG) hubs in the southern state, and started construction work on its first CBG plant on Wednesday (April 2). The company plans to develop 500 such plants across the coastal state.

In a stock exchange filing, RIL said the foundation stone for its first CBG plant in Andhra Pradesh has been laid by the state's IT & Electronics Minister Nara Lokesh. The ceremony was held at Kanigiri town in Prakasam district.

For the CBG plants, Reliance will use around 5,00,000 acres of barren and waste land in Prakasam, Anantapur, Chittoor, and Kadapa. When all the plants become fully operational, they will annually produce 40 lakh tonnes of CBG and 11 lakh tonnes of organic fertiliserl, the company said.

The CBG project is expected to create as many as 2,50,000 jobs for the rural youth in Andhra Pradesh.

The total capital investment of the RIL project is Rs 65,000 crore. "The plant will be developed with innovative technology and utilise Napier grass," RIL stated.

"The project will result in significant livelihood to the rural economy through payment of lease revenues to the farmers, and additionally, a fixed price for the grass grown by farmers."