Mukesh Ambani announces $ 25 billion investment for digital infrastructure
Wednesday, 11 December 2013 00:01
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REUTERS: Indian business tycoon, Mukesh Ambani, announced an investment of 2,500 crore ($ 25 billion) for the setting up of digital infrastructure in India’s Punjab state.
Business tycoon Ambani attended the Progressive Punjab Summit in Mohali on Monday (9 December), along with global steel giant, Arcelormittal CEO, Lakshmi Mittal and Chief of Punjab Prakash Singh Badal.
Ambani also announced that the Reliance Foundation will partner with Punjab in promoting sports, especially basketball in schools.
Further addressing the summit, Ambani declared his future plan of connecting to 147 towns.
“We are investing in the next one year, over (rupees) 2500 crore ($ 25billion) in Punjab alone. We will connect all the hundred and forty seven towns and cities that you mentioned. Our intention is to connect schools, colleges and hospitals in Punjab and initially start with free connectivity to schools, colleges and hospitals,” said Ambani.
Reportedly, around 21 companies signed agreements with the Government aiming at providing employment to over 100,000 workers.
Further addressing the summit, Mukesh Ambani also talked about creating employment for the people.
“We believe that these investments will generate direct and indirect employment to several thousand people in Punjab,” said Ambani.
Reportedly more than 20 memoranda of understanding (MoU) are scheduled to be signed between the Government and top industrial houses promising investment worth crores in the two-day summit.
Mukesh Ambani retained the top spot among Indians on Forbes’ annual list of the world’s billionaires with an estimated worth of $ 21.5 billion.
The head of Reliance Industries was placed 22nd on a list headed by Mexican tycoon Carlos Slim. Ambani was ranked 19th on the list last year.
