Mega Investment: Andhra Pradesh and Reliance's Green Energy Leap

The Andhra Pradesh government and Reliance Group have signed a Rs 65,000 crore agreement to establish 500 compressed bio-gas plants. The initiative, supported by Chief Minister N Chandrababu Naidu, aims to generate 2.5 lakh jobs and increase state revenue significantly over the next 25 years.

The government of Andhra Pradesh and Reliance Group inked a monumental Rs 65,000 crore deal to set up 500 compressed bio-gas plants across the state. The agreement was formalized on Tuesday with prominent figures such as Chief Minister N Chandrababu Naidu and the state's Minister for Energy, Gottipati Ravi Kumar, present at the signing ceremony in Amaravati.

Chief Minister Naidu expressed enthusiasm, stating that the memorandum of understanding would revolutionize the state's energy sector over the next three years. Each CBG plant will attract an investment of Rs 130 crore from the conglomerate, and is expected to create approximately 2.5 lakh jobs.

In addition to job creation, Naidu emphasized the long-term fiscal benefits for Andhra Pradesh. Over the next 25 years, the state anticipates gaining Rs 57,000 crore from SGST collections, electricity duty, and other revenue streams generated by this green initiative.

(With inputs from agencies.)