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Reliance Industries spearheads $9.3bn Indian industrial park

20 global corporations already on board for site near Mumbai, says chairman

Reliance Jio Infocomm headquarters in Navi Mumbai, India. (Photo by Akira Hayakawa)

MUMBAI -- Indian conglomerate Reliance Industries will partner with major multinationals to develop a modern industrial campus, with outlays expected to reach 600 billion rupees ($9.34 billion) over the next decade.

Mukesh Ambani, Reliance chairman and managing director, revealed the plan Sunday at a global investor summit in Mumbai, several Indian newspapers reported. Ambani said Reliance has already secured joint investment agreements from 20 companies, including Siemens, Cisco Systems, Nvidia and Nokia.

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