Reliance Industries Ltd. (RIL) will invest Rs. 5,000 crore in West Bengal, mainly in petroleum and retail sector, RIL chairman Mukesh Ambani said on Tuesday.
The investment would be made over a period of next three years and promote the electronics industry by manufacturing mobile phones and set top boxes, he says.
Ambani was present with a host of other industrialists at the Bengal Global Business Summit in Kolkata.
He said the investment would be made over the next three years and promote the electronics industry by manufacturing mobile phones and set top boxes.
RIL had pumped in Rs.15,000 crore in the telecom business in the State although it earlier committed to invest Rs. 4,500 crore, he pointed out.
This was made possible due to the conducive business environment in the State under Chief Minister Mamata Banerjee, he said.
L.N. Mittal of Arcelor-Mittal, Sajjan Jindal of JSW Steel, Kishor Biyani of Future Group, Head of the Kotak group Uday Kotak and chairman of the RP-Sanjiv Goenka group Sanjiv Goenka were among the 4,000 participants attending this year’s summit.
Ms. Banerjee tweeted that “nine partner countries, 32 countries with big delegations, more than 4000 participants, [and] we look forward to the Summit with lots of optimism.”
Later, Ms. Banerjee said the “State’s infrastructure, including 12000 kilometer of upgraded roadways” is ready to support the investment.