Reliance may set up Rs 500 cr sports academy in UP

Reliance Industries said it would consider setting up a sports academy in Uttar Pradesh at an investment of Rs 500 crore.

"It is difficult to turn down any request from Amar Singh and Chief Minister Mulayam Singh Yadav. We will consider the proposal for setting up a sports academy in the state," Anil Ambani, vice-chairman and managing director of Reliance Group, said at the foundation stone laying ceremony for the 3,500 Mw gas-based power plant at Dadri in Uttar Pradesh.

Speaking at the function after laying of the foundation stone of the Rs 10,000 crore project by the chief minister, Ambani said the construction work at the site would start soon.

"We have acquired 2,500 acres of land at Dadri. The construction work will start soon," Ambani said adding the land had been bought at the cost of Rs 100 crore.

Earlier, Samajwadi Party general secretary Amar Singh said he had invited Ambani to set up a sports academy at an investment of Rs 500 crore.

Ambani had earlier proposed instituting a sports scholarship fund for which several corporates and banks, including the Aditya Birla Group, Hindustan Lever Ltd and the Sahara Group, had contributed around Rs 30 lakh.