The Maharashtra Government has greenlit seven major industrial projects, poised to attract investments totaling around INR 81,137 Crore and generate approximately 20,000 jobs. These ventures encompass groundbreaking initiatives in lithium batteries, electric vehicles, semiconductor chips, and fruit pulp production. The investments will flow into regions including Konkan, Marathwada, and Vidarbha, fostering significant economic growth across these areas.
The greenlight projects are as follows:
Electric Vehicles:
One of the largest approved projects is JSW Green Mobility, which will establish the state’s first ultra-mega electric and hybrid vehicle manufacturing unit in Chhatrapati Sambhajinagar. As a subsidiary of the JSW Group conglomerate, the company will invest around INR 27,200 Crore and create over 5,200 job opportunities. This ambitious unit aims to produce 500,000 electric passenger cars and 100,000 commercial vehicles each year.
Lithium Batteries:
Another JSW Group subsidiary, JSW Energy PSP Eleven, will set up a lithium battery manufacturing plant in Nagpur. This project involves an investment of INR 25,000 Crore and is expected to create more than 5,000 jobs.
Solar and Photovoltaic Modules:
Furthermore, Avaada Electro’s integrated solar and photovoltaic modules and electrolyzer project received approval. This project will be established at Butibori in Nagpur and MIDC Bhoparpara in Panvel. It will involve an estimated investment of INR 13,647 Crore and will create over 8,000 employment opportunities.
Also Read: Economic Survey FY 2023-24: Unveiling Industrial Sector Achievements & Future Projections
Semiconductor Chips:
In addition, RRP Electronics Limited will establish an integrated semiconductor chip manufacturing project in Taloja, Raigad district. This will be the state’s first semiconductor manufacturing project. With an estimated initial investment of INR 12,000 Crore, it is expected to create over 4,000 jobs. In the second phase, another project will be set up at Mahape, Navi Mumbai. Operations are expected to start on a trial basis by September 2024.
Liquor Production:
The list of Maharashtra industrial projects also includes a mega project for liquor production at Butibori MIDC in Nagpur. Pernod Ricard India will invest an estimated INR 1,785 Crore to establish this project.
Fruit Pulp and Juice Production:
Additionally, Hindustan Coca-Cola Beverages will set up a plant for fruit pulp and juice production in Ratnagiri, with an estimated investment of INR 1,500 Crore.
The recent approval of Maharashtra industrial projects marks a significant milestone for the state’s economic development. As these projects come to fruition, they will undoubtedly drive growth and innovation across key regions.
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