Billionaire Mukesh Ambani, the Chairman of Reliance Industries Limited on Thursday while addressing the company's annual shareholder meeting announced a Rs 75,000 crore investment in setting up four "Giga" factories.
He said Reliance will set up 100 GW of solar power generating capacity to make solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years.
Reliance will set up Dhirubhai Ambani Green Energy Giga Complex spanningover 5,000 acres in Jamnagar, Gujarat.
Ambani stated, "We plan to build four Giga Factories to manufacture and integrate all critical components of new energy ecosystem - solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory."
He further added that these four factories will involve an investment of Rs 60,000 crore. He also that RIL will be investing an additional Rs 15,000 crore in the value chain, partnerships and future technologies, including upstream and downstream industries.
However, RIL stock was not so enthusiastic and was the top loser among index stocks and ended 2.35 per cent lower at Rs 2,153.35 on the Bombay Stock Exchange.