Reliance Announces Establishment of Carbon Fiber Facility in Gujarat

Billionaire Mukesh Ambani announced on Wednesday that his company, Reliance, is set to establish India's inaugural state-of-the-art carbon fiber facility at Hazira. Addressing the audience at the Vibrant Gujarat Summit, Ambani emphasized the company's commitment to Gujarat, stating that Reliance has invested over $150 billion (₹12 lakh crore) in creating top-tier assets and capacities across India in the past decade, with more than one-third of that investment directed towards Gujarat.

Ambani expressed Reliance's dedication to contributing to Gujarat's emergence as a global leader in green growth, pledging support to the state's goal of fulfilling half of its energy requirements through renewables by 2030. He highlighted the construction of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, spanning over 5,000 acres, which is expected to generate green jobs and facilitate the production of environmentally friendly products. Ambani announced plans to roll out these initiatives in the second half of 2024.

In the realm of technology, Reliance Jio achieved the fastest deployment of 5G infrastructure globally. Looking ahead to India's bid for the 2036 Olympics, Ambani revealed that Reliance and Reliance Foundation, in collaboration with various partners in Gujarat, will work towards enhancing education, sports, and skills infrastructure to nurture future Olympic champions.

Ambani concluded with an optimistic vision for India's economic future, asserting that no force could prevent India from becoming a $35 trillion economy by 2047. He predicted that Gujarat alone would evolve into a $3 trillion economy by that time.

HBL