'I sense optimism in Gujarat's youth'

Reliance industries plans gas distribution project in 13 cities

Reliance Industries (RIL) today announced plans for an gas distribution project covering 13 cities in Gujarat. The company's chairman and managing director Mukesh Ambani also stressed on the need to train and educate the local youth to ensure prosperity of industries in the state.

"Reliance is actively working with the Gujarat government for a gas distribution project for 13 cities and setting up a university in the state," Ambani, said at the inaugural session of the Global Investors' Summit here today.

The state government has recently decided to convert vehicles in the state to CNG-powered engines.

Referring to the fact that Reliance had started its business with its first textile mill at Naroda in Ahmedabad, Ambani said: "Reliance's tryst with Gujarat is an expression of our commitment and faith. We began from Gujarat, we learnt from here and we come back here again and again."

Stressing on the need to train the youth, Ambani said: "I sense a new found optimism and confidence in Gujarat as our state is embracing information technology with great enthusiasm. The new generation of Gujaratis is breaking new grounds and is eager to internalise technology to meet the challenges of the competition."

Ambani urged to provide training, inspiration and leadership to young people of Gujarat. "They (the Gujarati youth) have the potential to conquer the world with their acumen and talent and they have a demonstrated track record in encouraging entrepreneurs and enterprises," he said.

Shashi Ruia, chairman of Essar Group, Nigel Shaw of British Gas, Sudhir Mehta, chairman of Torrent Group, B K Goenka of Welspun India, Suresh Mathur, managing director of Petronet LNG, Sanjay Lalbhai of Arvind Mills, Prosad Dasgupta, director (finance) of Petronet, Gautam Adani, chairman of Adani Group, along with Pankaj R Patel, chairman of Zydus Cadila Healthcare also attended the inaugural function, presided by Vice-President Bhairon Singh Shekhawat.

Ambani had words of appreciation for Gujarat chief minister Narendra Modi. "Under Modi, Gujarat is fortunate to have a political leader who is passionate about the state's future and Narendrabhai has an amazing clarity of purpose and determination. He combines a modern outlook with Gujarat's ethos and I have no doubt that his dynamism would help Gujarat earn a place of pride in India and in the world," he said.

Saying that during Global Investors' Summit took place here during winter of 2003, Reliance had committed projects worth Rs 9300 crore in Gujarat, primarily in the petrochemical and petroleum retailing domains, Ambani said that all these investments are on track.

"Investments worth Rs 2100 crore have already been completed and commissioned. In addition, expenditure to the extent of Rs 3800 crore has already been committed in the other projects which are in progress.

"Reliance is a company that found faith in over three million shareholders, a majority of them from Gujarat and the Company very much reflects the ethos of Gujarat-of effort, enterprise and endearment," he added.