Reliance Industries Limited (RIL) is set to invest Rs 11,760 crore in a bio-energy project in Tamil Nadu, as part of the state’s efforts to promote industrial expansion in the southern region. The project, which is expected to generate around 5,000 jobs, will supply clean energy for domestic and industrial use across the state. A memorandum of understanding (MoU) is expected to be signed at the TN Rising investment conclave in Madurai on Sunday.
While details about the exact site, technology, and timeline of the project are not yet available, it is believed to be one of the largest investments announced for the region. The project aligns with RIL’s green energy ambitions and is expected to contribute to the state’s efforts to reduce its carbon footprint. The investment is also seen as a significant boost to the southern region of Tamil Nadu, which has struggled to attract large industrial investments despite having a large and skilled workforce.
The project is part of RIL’s commitment to investing in the renewable energy and green hydrogen sectors in Tamil Nadu. In January 2024, RIL chairman and managing director had virtually addressed the Global Investors Meet in Chennai, emphasizing the group’s commitment to making new investments in the state. The investment is expected to mark a significant milestone in the state’s efforts to promote industrial expansion beyond the traditional hubs of Chennai and the western corridor.
The Tamil Nadu government has been actively promoting the state as an investment destination, and the RIL investment is seen as a major success for the state’s efforts. The investment is expected to have a positive impact on the local economy and provide employment opportunities for the people of the region. Overall, the RIL investment is a significant development for Tamil Nadu and is expected to contribute to the state’s growth and development in the coming years.