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Private Sector | Maharashtra - India | PID: 203442
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Maharashtra Chief Minister Eknath Shinde has approved investments totaling Rs 1,17,220 crore for four major high-tech projects across Marathwada, Vidarbha, Pune, and Panvel. The projects, focused on semiconductor and electric vehicle (EV) manufacturing, were given the green nod at a Cabinet Sub-Committee meeting of the Industries Department on 05 September, 2024
These initiatives are expected to create approx. 29,000 jobs, paving the way for Maharashtra to be a leading hub for advanced manufacturing. The approved high-tech projects include Tower Semiconductor's collaboration with the Adani Group at Panvel, Raigad involving an investment of Rs 83,947 crore spread across two phases. Skoda Auto Volkswagen India is investing Rs 12,000 crore in Chakan, Pune towards production of electric and hybrid vehicles, which will generate over 1,000 employment opportunities.
Meanwhile, Toyota Kirloskar Motor is investing Rs 21,273 crore in Chhatrapati Sambhajinagar (Aurangabad) to boost hybrid and electric vehicle production, aiding in 12,000 work opportunities. Additionally, Raymond Luxury Cottons is committed to making a Rs 188 crore investment in Nandgaon Peth, Amravati, under the Textile Industry Policy, which will focus on spinning, yarn dyeing, and manufacturing of jute and cotton, which will support the generation of employment for 550 persons.
These new developments come after the approval of Rs 80,000 crore worth of projects in July, raising the total approved investment in the last two months to Rs two lakh crore. Combined, these investments are expected to generate 35,000 jobs, benefiting micro, small, and medium enterprises across the state. Deputy Chief Minister Devendra Fadnavis and Industries Minister Uday Samant were present at the meeting, along with Chief Secretary Sujata Saunik and Principal Secretary of the Industries Department Harshdeep Kamble.
| Updated on: 25 - Sep - 2024
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