JOIN USReliance Industries (RIL) has evinced plans to invest Rs 55,000 crore in Andhra Pradesh by 2020-22, in the area of marketing of gas and LNG across the country, development of oil fields in the Krishna Godavari Basin and digital infrastructure in the state.
India Gas Solutions, a 50:50 joint venture company of RIL and BP International (BP) in the business of marketing gas and LNG in India, signed an MoU with the state government at the CII Partnership Summit here on Sunday.
The MoU will facilitate business of marketing of gas and LNG in the country with a committed investment of Rs 40,000 crore. RIL and BP have announced that they are moving forward to develop offshore gas discoveries in Block KG-D6 in the Krishna Godavari Basin in Andhra Pradesh through three projects with investments of up to Rs 40,000 crore.
The development of the three projects is expected to bring a total capacity of 30-35 million cubic meters of domestic gas production on-stream, phased over 2020-22 and will create considerable direct and indirect employment during the construction phase over the next five years. In addition, another Rs 15,000 crore investments is proposed by Reliance Infocomm.