Visakhapatnam: Announcing that Reliance Industries will set up a 10 gigawatt renewable solar energy project in Andhra Pradesh, the group Chairman Mukesh Ambani on Friday said the state has grown leaps and bounds under the leadership of Chief Minister YS Jagan Mohan Reddy.

Andhra Pradesh, with its second longest coastline of 974 kms in the country, will witness the growth of the Blue Economy in the coming decades, said Mukesh Ambani at the inaugural session of the two-day Global Investors Summit 2023 in Visakhapatnam.

“This morning, I am happy to announce that we will continue our investments and we will invest in 10 GW of renewable solar energy in the state of Andhra Pradesh,” Mukesh said.

The Reliance Industries Chairman said under the determined and farsighted leadership of Prime Minister Narendra Modi, India has now become the fastest growing economy in the world. Similarly, he said, Andhra Pradesh has grown phenomenally under the youthful leadership of YS Jagan Mohan Reddy.

Ambadi further said Reliance was among the first corporates to believe in the stupendous economic potential of Andhra Pradesh. It is here that our Oil & Gas Exploration team found gas in 2002. We have invested over 1,50,000 crores in our KG-D6 assets, developing and supporting gas pipelines.

Today the natural gas produced by Reliance in KG D-6 basin is fuelling the country's clean energy transition and will contribute to nearly 30 percent of its gas production.

"This is just an example of how important Andhra is to the India story," Mukesh said.

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Mukesh added that Reliance Jio 4G network covers 98% of Andhra Pradesh’s population, including those living in the remotest corners of the state. The rollout of Jio’s True 5G will be completed before the end of 2023 throughout India, he said.