In a major boost to the bio-energy sector, Reliance Industries has invested 11,760 crore in Tamil Nadu as part of its industrial expansion. A memorandum of understanding is expected to be signed between TN Rising investment conclave in Madurai on Sunday, under which RIL plans to establish integrated plans across the state.
M Balachandran, the RIL president, signed the MoU in the presence of the Chief Minister of Tamil Nadu, MK Stalin and the state minister of Industries, TRB Raja.
https://x.com/TnInvestment/status/1997551972799684900?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1997551972799684900%7Ctwgr%5E9a73b63a4f6ffd2e89f0d78e462ceda49864d879%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fthefederal.com%2Fcategory%2Fbusiness%2Freliance-to-invest-tamil-nadu-bio-energy-rs11760-crore-mou-signed-tn-rising-conclave-219647
As per reports by The New Indian Express, the investment MoU is set to be signed on Sunday, but no further details have been revealed. As India strengthens its bid to increase green energy, this is an important step, especially for the energy giant Reliance. The technology to be used, the energy site, or the timeliness remains unknown, but the move is inclined with Reliance’s long-term green energy investments.
At the event, Stalin expressed his gratitude towards the investors and praised the growth of the state, stating that Tamil Nadu is moving towards a one trillion dollar US economy. The proposed investment is one of the largest such projects in the region, and is expected to provide jobs to over 5,000 people while also providing clean energy for domestic and commercial purposes. Official sources close to RIL reveal that the site’s location and investment show Tamil Nadu’s push to create new hubs for energy beyond the traditional centres in Chennai and the Western Ghats.
Despite the large scale investments, the Southern region has failed to attract a skilled workforce and a large scale investment. This project will give a boost to investments that have been strangled for a long time. In a 2024 address, by RIL chairman and Managing Director states that the company aims to invest more in green energy and hydrogen energy in the region.
