Reliance Infrastructure Plans To Invest Rs 400 Billion In Jharkhand Unit

Anil Dhirubhai Ambani Group company  Reliance Infrastructure has revealed its plan to invest Rs 400 billion to set up a steel plant with a capacity of 12 million tonnes in the eastern state of Jharkhand.

While commenting on the plan, Mr. K.K. Khandelwal, industry secretary of the Jharkhand state government, stated, “We have received the proposal from Anil Ambani Group. It is still under process.”

Reliance Infrastructure, formerly known as Reliance Energy, participates in telecoms, financial services, power and infrastructure, engineering and construction businesses.

According to the reports, ArcelorMittal, the world's top steelmaker, has drawn its road map to invest $20 billion over the coming 10 years to build two steel plants to produce about 25 million tonnes of steel.

In such volatile market session, the stock of Reliance Infrastructure ended well at Rs 843, up 0.46 percent on National Stock Exchange. The total volume of share traded at the NSE was 4,506,783.