RIL AGM 2021 | Reliance to build 4 giga factories, invest Rs 75,000 crore in green initiatives over 3 years: Mukesh Ambani

Mukesh Ambani, chairman, RIL

At the 44th Annual General Meeting of Reliance Industries Limited on June 24, company's chairperson Mukesh Ambani announced they would be building four giga factories as part of the environment-friendly initiatives.

Giga factories will manufacture and fully integrate all the critical components of the "new energy ecosystem", Mukesh Ambani said.

Reliance would be cumulatively investing Rs 75,000 crore towards the green initiatives over the next three years, he told shareholders in a virtual address. Of this, Rs 60,000 crore will be invested in building integrated solar photovolatic factory, battery making unit and green hydrogen unit, Ambani said.

"Our Jamnagar complex will provide infrastructure and utilities to manufacture ancillary material and equipment needed to support these Giga factories so that all critical materials are available in time. We will also support independent manufacturers with right capabilities to be part of this nationwide ecosystem," Ambani said.

Reliance would further invest an additional Rs 15,000 crore in value chain, partnerships and future technologies, including upstream, he added.

"Thus, our overall initial investment from our own internal resources in the New Energy business will be 75,000 (over $10 billion) crore in 3 years," Ambani added.

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