Ahmedabad: Corporate giant Reliance Industries on September 28 said it plans to invest Rs 8,000- 10,000 crore in Gujarat over the course of next three years.

Speaking at 'Vibrant Gujarat Global Investors Meet' in Ahmedabad, Group Chairman Mukesh Ambani said, "we plan to invest Rs 8,000-10,000 crore in Gujarat over next three years".

The money is likely to be invested in energy and broadband networks projects, he said adding, the company also planned to tap the recent oil finds in Krishna-Godavari basin in Andhra Pradesh to generate cheap energy in Gujarat.

He said the company has already invested over Rs 50,000 crore in the state including Asia's largest oil refinery near Jamnagar.

On the company's IT initiatives in the state, he said the digital broadband network had already reached all major cities and towns and efforts were underway to connect all villages.

Ambani cited several factors which added to the overall investment climate in the state including industrial relations and business acumen of the people and its potential to play a lead role in building as a strong leader in IT and communications.

"More investment in Gujarat makes more business sense", he remarked lauding the spirit of recovery and determination of Gujarati people.

PTI