Reliance Retail may put UP, Orissa plans in the backburner
Reliance Retail may put UP, Orissa plans in the backburner Reliance Industries is understood to be shelving its estimated Rs 130 billion plans in UP and Orissa due to the treatment meted out by the goverments of the two states in recent days. Reliance Retail had planned to invest around Rs 80-100 billion in Uttar Pradesh for retail operation, including about 200 `Reliance Fresh` stores and the back-end logistic chain. However, in the wake of state government asking it to shut down the outlets, the company has decided to put the plans on hold. The company is also re-evaluating its strategy in Orissa, where the overall investment accounts to around Rs 30 billion. Reliance`s move will put at stake about 10,000 direct and indirect jobs in Uttar Pradesh and Orissa.
