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economictimes.indiatimes.com / 1 year ago
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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
RIL shares in focus for these 2 reasons. Check details
Reliance Industries Ltd (RIL) are expected to be in focus on Thursday, April 3, after the company made two announcements via filings to the stock exchanges.
The first announcement states that Reliance has begun construction of its first Compressed Biogas (CBG) plant in Andhra Pradesh, which is part of a larger plan to establish 500 such CBG plants in the region.
Meanwhile, the second announcement states that RISE Worldwide Limited, a subsidiary of Reliance, is entering into a partnership with BLAST, a known global esports company. The partnership is aimed at developing or expanding the esports business in India.
Here are the details of the updates:
Construction of CBG plant
Reliance has initiated the construction of its first Compressed Biogas (CBG) plant in Andhra Pradesh, marking the beginning of a larger plan to set up 500 such plants across the region. With a total planned investment of Rs 65,000 crores, these facilities are envisioned to function as integrated hubs for the production and distribution of CBG.
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“Reliance breaks ground on first of 500 CBG plants in Andhra Pradesh, plans to invest Rs. 65,000 crores in developing integrated CBG hubs in AP,” the company said in an exchange filing.
The project, which involves a capital investment of Rs. 139 crores, is the first in a series of 500 projects for AP involving a total capital outlay of Rs. 65,000 crores. The plant will use innovative technology and Napier grass, which would be grown on barren and wastelands, to produce biogas.
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