Anand Ambani, Executive Director of Reliance Industries Ltd (RIL), announced on Friday that the company, owned by billionaire Mukesh Ambani, intends to invest 1 trillion rupees in establishing Compressed Biogas (CBG) projects in the state of Andhra Pradesh.
Speaking at the foundation stone laying ceremony for the Rayalaseema Horticultural Centre and Indian Agricultural School in Madanapalle, Ambani emphasized that the country's farmers, who ensure food security, will now also strengthen energy security, contributing to India's self-reliance in the energy sector.
He expressed gratitude to the Government of Andhra Pradesh for the opportunity to invest 1 trillion rupees in the state for the construction of compressed biogas production plants. Ambani added that these projects will create over 300,000 jobs and bring an income of 60,000 crore rupees to the state over the next few decades.
Furthermore, he noted that the state's 'Ease of Doing Business' policy is transforming Andhra Pradesh's ambitions into impressive investment potential. According to him, since June 2024, the state has approved 388 mega-projects with investment commitments exceeding 14 trillion rupees and the potential to create nearly 1.1 million jobs, about a third of which are directed towards Rayalaseema.
Ambani also expressed RIL's pride in participating in this growth story through clean energy projects. He stated that this momentum, spanning from green energy to advanced manufacturing, gives real substance to the vision of 'Swarna Andhra 2047', which aligns with the concept of 'Viksit Bharat'.
Earlier this week, Petroleum and Natural Gas Minister Hardeep Singh Puri launched the GOBARdhan scheme—a centralized program designed to stimulate the CBG sector. This initiative is recognized as a turning point that will attract large investments due to extensive incentives.
This scheme, approved by the Union Cabinet last month with allocations of 23,731 crore rupees, sets out a 10-year plan from 2026-27 to 2035-36 to accelerate the development of CBG in India. The goal is to increase domestic CBG production approximately tenfold, to 5 million standard cubic meters per day (mscmd), thanks to a long-term structure that provides greater confidence to investors and lenders.