Reliance Defence to setup naval facility in Andhra Pradesh
"It is a small measure of what can be achieved when entrepreneurial energy and intent is backed by political will and administrative commitment," Ambani said.
"As many of you know, Vizag has since ancient times been a hub of commercial and maritime activities. It has today grown to be one of the busiest harbour cities in Asia," he said.
He said the initial investment for the project will be Rs.5,000 crore.
"At an initial investment outlay of Rs 5,000 crore, it will represent the single largest investment at one location anywhere in Andhra Pradesh – an investment that will not only generate thousands of skilled jobs but also lead to the creation of a multi-tier array of defence ancillaries, bringing in further investments of anywhere
between Rs 5,000 to 10,000 cr and thousands of additional skilled jobs," he said.
Ambani made the remarks at the Andhra Partnership Summit,
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