Reliance Industries bets big on Madhya Pradesh, eyes more investment; announces setting up of national distribution centres

Reliance Industries, chairman Mukesh Ambani on Friday announced setting up of national distribution centres in Madhya Pradesh with over 10 million square feet space across 45 locations

Press Trust of India October 18, 2019 17:08:28 IST
Reliance Industries bets big on Madhya Pradesh, eyes more investment; announces setting up of national distribution centres
  • The company, which has over 600 stores and 100 petroleum retail outlets in the state, is planning to more than double the same over the next few years, Ambani said at 'Magnificent MP', investment summit organised by the Madhya Pradesh government

  • Reliance will be setting up state-of-the-art national distribution centres in MP with over 10 million sq ft of space across 45 locations in the state, Ambani announced through video conferencing

  • Reliance is among the largest investor in the state with investments of over Rs 20,000 crore in the last few years, he said

Indore: Reliance Industries, chairman Mukesh Ambani on Friday announced setting up of national distribution centres in Madhya Pradesh with over 10 million square feet space across 45 locations.

The company, which has over 600 stores and 100 petroleum retail outlets in the state, is planning to more than double the same over the next few years, Ambani said at
'Magnificent MP', investment summit organised by the Madhya Pradesh government.

"Madhya Pradesh is a natural choice for logistics hub because of its strategic location. Reliance will be setting up state-of-the-art national distribution centres in MP with over 10 million sq ft of space across 45 locations in the state," Ambani announced through video conferencing.

Ambani, however, did not share the investment details of this project.

Reliance Industries bets big on Madhya Pradesh eyes more investment announces setting up of national distribution centres

File image of RIL chairman Mukesh Ambani. Courtesy - Reliance Jio

Ambani expressed his inability to attend the summit because of the board meeting of the company on Friday.

He said Reliance will also explore investment opportunities in the area of renewable energy in the state to promote sustainable development and green economy.

Reliance is among the largest investor in the state with investments of over Rs 20,000 crore in the last few years, he said.

"Reliance has developed coal bed methane blocks in the state and built the first and the only gas pipeline that connects it with the national gas grid. This opens for multiple future investment opportunities," Ambani said.

RIL is the top most employer in the state after Madhya Pradesh government.

Ambani said that Reliance Jio Infocomm has become the greatest catalyst for transforming MP into a digital society.

"Today, MP alone consumes more data than South Korea, the UK, France, Germany or Canada. I would like to thank all the Jio users in the state for this record consumption," he added.

He also said all the services of Jio will soon be available in Hindi.

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)

Updated Date:

also read

MP police file FIR against sellers over Tricolour-themed products on Amazon
India

MP police file FIR against sellers over Tricolour-themed products on Amazon

Amazon faced the ire of a section of Indian social media users over merchandising some products, including apparel and food items, that feature images of the Indian flag, with some saying that using the tricolour in such a way was an insult and a violation of the country's flag code

Dholera International Airport awaits cabinet nod: All you need to know about the greenfield airport
India

Dholera International Airport awaits cabinet nod: All you need to know about the greenfield airport

The ambitious Dholera International Airport project in Gujarat is yet to take off as the first phase of its construction is still awaiting approval from the Cabinet.

RBI proposes new norms for classification, valuation of banks' investment portfolio
India

RBI proposes new norms for classification, valuation of banks' investment portfolio

The new norms propose to bridge the gap between the existing guidelines and global standards and practices with regards to classification, valuation and operations of the investment portfolio of commercial banks