The Reliance Industries Limited on Thursday signed an MoU with the Maharashtra government to invest approximately Rs 3.05 lakh crore which is projected to create more than 3,00,000 jobs. The deal was signed at the World Economic Forum (WEF) in Davos, according to a tweet posted on the official X account of the Maharashtra Chief Minister Devendra Fadnavis.

CM Fadnavis said that the investment would span various sectors such as petrochemicals, polyester, renewable energy, green hydrogen, green chemicals, industrial area development, retail, data centres, telecommunications, hospitality, and real estate.

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“A groundbreaking moment for Maharashtra as the GoM and RIL signed a historic MoU worth Rs 3,05,000 crore, with over 3,00,000 employment opportunities across diverse sectors, including new energy, retail, hospitality, and high-tech manufacturing, under the leadership of Anant Ambani,” the tweet said.

“It is an extreme honour and moment of pride for me and for RIL as we embark on this remarkable MoU with the Government of Maharashtra. RIL has always been deeply committed to the idea of ‘New India’ under the visionary leadership of Prime Minister Narendra Modi,” Anant Ambani said in a video accompanied by the tweet.

“As the largest business group in India, we are spread across the country, furthering our commitment to build a great nation. In this regard our Rs 3.05 lakh crore MoU, spread across new energy, retail, hospitality, green power, hi-tech manufacturing, is a step in that direction. We are inspired by the phenomenal leadership of Devendra Fadnavis, whom I have known personally for over 10 years,” Anant Ambani said.

Anant Ambani lauded CM Fadnavis’ vision to make Maharashtra the gateway to India’s 5-trillion US dollar economy, and called it remarkable. He said the CM’s vision to make Maharashtra the first trillion-dollar state is practical and doable in the next few years. Ambani, who was part of the Maharashtra state economic advisory council, said that he is impressed by the planning process of the Devendra Fadnavis government to achieve this target.

“We are with Maharashtra in this pursuit,” Anant Ambani said.