Maharashtra govt invests ₹1.17 lakh crore in 4 mega projects to generate 29,000 jobs

The Maharashtra government, on Thursday evening, approved four high-technology mega projects in Marathwada, Vidarbha, Pune and Panvel. These four projects will comprise an aggregate investment of ₹1.17 lakh crore and have the ability to create 29 thousand jobs.

The projects will lead to investments in sectors such as semiconductor and electrical vehicle (EV) manufacturing.

According to officials, this decision was taken at a cabinet subcommittee meeting of the industries department.

As per a statement released on Friday by the Maharashtra chief minister’s office (CMO), this investment will aid Maharashtra in becoming a leader state in the EV sector.

Chief Minister Eknath Shinde said these projects would help develop a strong local supply chain and give a major boost to technical innovation, research, and development.

The CM further added that this investment will help micro-small and medium industry stakeholders and will also lead to the local population getting skill development and training opportunities, which would raise employability and the skill bar needed for upcoming technologies.

Setting up a mega semiconductor factory in Panvel

As per the statement, Tower Semiconductor Company and Adani Group would jointly launch a mega semiconductor manufacturing project at Panvel in neighbouring Raigad district, with an investment of ₹58,763 crore in the first phase and ₹25,184 crore in the second phase. The total investment will be ₹83,947 crore, and it would generate employment for 15,000 persons.

Electric vehicle manufacturing projects

An electric vehicle manufacturing project of Skoda Auto Volkswagen India, with an investment of ₹12,000 crore, will be set up in Pune, and it would provide employment to 1,000 persons.

The CMO statement said Chhatrapati Sambhajinagar would be the location for a mega electric vehicle manufacturing project of Toyota Kirloskar Motor Company. This project would have an investment of ₹21,273 crore and result in the generation of 12,000 jobs.

MSME sector

The MSME sector in Marathwada, of which Chhatrapati Sambhaji Nagar is a part, would benefit from this project, while the use of EVs will reduce greenhouse gases, the statement added.

"Under the textile policy, Raymond Luxury Cottons would set up a mega-project at Amravati to manufacture products through spinning, yarn dyeing, weaving jute, weaving cotton, jute, mesta, and cotton. This project would come up at Nandgaon Peth MIDC with an investment of ₹188 crore. It would generate employment for 550 persons," the CMO statement informed.

The sub-committee meeting held in July had given the nod for projects costing ₹80,000 crore, while projects entailing an investment of ₹2 lakh crore were given the nod in the last two months, which would result in the generation of 35,000 jobs, it added.

The cabinet subcommittee meeting held on July 30 gave approval for the mega semiconductor manufacturing project of RRP Electronics, which is the first semiconductor manufacturing project in the state.

The project by Toyota Kirloskar would be the second in the EV sector in Chhatrapati Sambhaji Nagar, as a nod was given for a manufacturing facility by JSW Green Mobility.