Reliance Industries Limited will invest Rs 75,000 crore in Uttar Pradesh over the next four years to launch 5G mobile telephone service, expand the retail network and set up renewable energy capacity, chairman Mukesh Ambani gave this information on Friday. Ambani also announced the oil-to-telecom conglomerate’s foray into bioenergy, which turns agricultural waste into gas that can be used as industrial fuel to power cars or light kitchen stoves.

Speaking at the 2023 Uttar Pradesh Global Investor Summit here, Ambani said his team would build 10 GW of renewable energy capacity in the next 10 months and roll out 5G services across the state.

“We plan to invest another Rs 75,000 crore in UP in Jio, retail and renewable energy businesses over the next four years,” he said. These new investments will create more than 1 lakh additional jobs in the state,” he added. The investment will be in addition to the Rs 50,000 crore already invested in the state. Reliance, the largest telecom company in the US by subscribers Jio will complete the 5G rollout to cover every town and village in the state by December 2023.

This will help modernise all areas such as business and industry, agriculture, social sector and governance, he said, saying the company plans to pilot two of its new innovation initiatives, Jio School and Jio AI Doctor, to bring best-in-class to educate and provide healthcare in the most affordable way to the villages and small towns of Uttar Pradesh. He said Reliance Retail would revolutionise hundreds of thousands of kiranas and small shops across the state, enabling them to grow and earn more.

In addition to physical stores, the company connects customers to nearby kirana stores and delivers merchandise orders through a mobile app and website. Ambani announced that the group’s new energy arm would build 10 GW of capacity, the largest in UP.

“We will also launch an ambitious new bioenergy business,” he said, without giving many details. The joint venture will benefit farmers, aid solid waste management, and improve the environment. Ambani said this year’s Union Budget had laid the groundwork for India’s rise as a developed country. “It stands out with the highest ever allocation of resources, laying the groundwork for the country to grow in capital expenditure. This is bound to boost economic growth and achieve greater social welfare,” he said.