Maharashtra's Industrial Boom: Over Rs 80,000 Crore in New Investments

The Maharashtra government has secured a major economic boost by signing nine memoranda of understanding (MoUs) with various companies, envisaging a total investment of Rs 80,962 crore. Officials highlighted that the planned projects will create more than 40,300 jobs across the state.

The signing ceremony, part of the Steel Mahakumbh organized by AIFA in Goregaon, Mumbai, was graced by Chief Minister Devendra Fadnavis, Union Minister Pralhad Joshi, and state industries Minister Uday Samant. The significant investments are set to enrich districts like Gadchiroli, Chandrapur, Nagpur, Wardha, Raigad, Chhatrapati Sambhajinagar, and Satara.

Among the notable projects, Rashmi Metallurgical Industries plans to establish an integrated steel plant in Wardha with a Rs 25,000 crore capital outlay, potentially generating 12,000 jobs. Simultaneously, Jindal Stainless Ltd aims to set up a stainless steel plant in Raigad worth Rs 41,580 crore, offering employment to 15,500 people. Additionally, the Atha Group will develop an advanced lithium battery material complex in Chhatrapati Sambhajinagar, projected to create jobs for 5,000 individuals, alongside other promising ventures in the pipeline.

(With inputs from agencies.)