RIL to invest Rs 55,000 cr in Andhra Pradesh

VISAKHAPATNAM: In a major initiative, Reliance Industries and its associate companies on Sunday announced a committed investment of Rs 55,000 crore by 2020-22 in the areas of marketing gas and liquefied natural gas, development of offshore oil fields in the Krishna-Godavari basin and digital infrastructure in Andhra Pradesh. The Mukesh Ambani-led group signed memoranda of understanding (MoUs) to this effect with the Andhra Pradesh Government on the second day of the three-day CII Partnership Summit in the port city of Visakhapatnam. India gas Solutions Private Ltd, a 50:50 joint venture company of Reliance Industries Ltd and BP International Ltd (BP) and Andhra Pradesh Economic Development Board have signed the MoU to facilitate business of marketing gas and LNG in the country with a committed investment of Rs 40,000 crore. RIL and BP announced that they would develop the discovered offshore gas fields  through three projects. TNS