Reliance-Anil Dhirubhai Ambani Group to invest big in Orissa

Anil Ambani, chairman of the Reliance-Anil Dhirubhai Ambani Group (R-ADAG) has announced their plans to invest as much as Rs 61,500 crore in the state of Orissa.

The company would be investing in the fields of energy, IT and health sectors. The company and the Orissa government went on to sign a joint communiqué pledging the investments in the state.

The latest venture overshadows two other major investment plans in the state. Posco has plans to invest Rs 52000 for a 12 million tonne steel plant and Mittal Steel recently announced that they were going to invest Rs 40,000 crore on another steel plant in the state.

The company plans to setup a 12,000 MW coal-fired power plant at Hirma in Jharsuguda district with an investment of Rs.50,000 crore. Ambani spoke about their plans for the state: “The Hirma project will be the largest single location thermal power project in the world surpassing the South Africa’s 4300 MW power station.”