Reliance Industries Limited has signed a MoU to invest INR 65,000 crore in setting up of 500 compressed biogas plants in Andhra Pradesh, expected to open potential opportunities for the tubes and pipes manufacturing companies in India. The company has launched the first commercial-scale CBG plant in Barabanki, Uttar Pradesh, and plans to expand to 25 CBG plants across India, with a goal for 100 CBG plants in the next five years.
Nov 15, 2024
Reliance Industries Limited (RIL) has signed a memorandum of understanding (MoU) to invest INR 65,000 crore in setting up of 500 compressed biogas (CBG) plants in Andhra Pradesh. The new investment by the industry giant is expected to open potential opportunities for the tubes and pipes manufacturing companies in India.
‘‘Today, the GoAP has signed a landmark MoU with Reliance Industries, securing an INR 65,000 crore investment for Compressed Bio Gas (CBG) projects. This partnership is set to generate 2.5 lakh employment opportunities in our State. Out of Reliance’s national target of 2,000 CBG plants, 500 state-of-the-art CBG plants will be built throughout Andhra Pradesh over the next three years. This will make our state a frontrunner in clean energy and sustainable development. With Reliance’s commitment to enhancing lives and livelihoods in AP, this partnership will also drive growth across multiple sectors. By attracting such transformative investments, our Integrated Clean Energy Policy is proving instrumental in positioning our State as a preferred destination for industries — a swing in AP’s favour,” posted Chief Minister Chandrababu Naidu on his Twitter platform.
The MoU was signed by representatives of RIL and senior officers of the State government at the Secretariat in the presence of CM Naidu.
This is one of the biggest RIL’s biggest investment announcements for the CBG segment as there are only 109 functional CBG/Bio CNG plants in India, according to GOBARdhan (Galvanising Organic Bio-Agro Resources Dhan) data.
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In its FY24 annual report, RIL said it had launched the first commercial-scale CBG plant in Barabanki, Uttar Pradesh (UP), and plans to expand to 25 CBG plants across India, with a goal for 100 CBG plants in the next five years.
