(Reuters) -Indian conglomerates led by billionaires Gautam Adani and Mukesh Ambani said in separate statements on Friday that they will invest more money to develop their projects in the country’s northeast region.
The Adani Group will invest 500 billion rupees ($5.84 billion) over the next decade to develop infrastructure, including roads and highways, as well as green energy projects such as hydro and pumped storage, chairman Gautam Adani said at an industry event in New Delhi.
Earlier this year, he announced his ports-to-power conglomerate will invest 500 billion rupees in the northeastern state of Assam to expand airports, roads and gas distribution.
Reliance Industries, which has invested 300 billion rupees in the region so far, is aiming to increase it to as much as 750 billion rupees in the next five years, chairman Mukesh Ambani said at the same event.
The oil-to-retail group will set up 350 biogas plants in the region and will build factories to produce fast-moving consumer goods, he added.
($1 = 85.6880 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman and Nivedita Bhattacharjee)
