By attracting such investments just before the assembly polls, the Mahayuti government aims to counter the narrative set by the opposition Maha Vikas Aghadi (MVA) that this administration has allowed major industries and new investments to go to other states
Maharashtra’s cabinet sub-committee for industries has approved the establishment of seven major industries which would bring in an investment of Rs 81,137 crore, including the state’s first semiconductor chip manufacturing plant. The meeting was recently chaired by Chief Minister Eknath Shinde and attended by Deputy CMs Devendra Fadnavis and Ajit Pawar, and Industries Minister Uday Samant.
The semiconductor chip manufacturing plant will be set up by RRP, a leader in the electronics sector. The company will invest Rs 12,000 crore in two phases, creating 4,000 jobs. The company has commenced work in the Mhape industrial area in Navi Mumbai, with the plant expected to start by September 2024.
Also, JSW Energy PSP will invest Rs 25,000 crore in Nagpur, creating 5,000 jobs. This plant will manufacture lithium-ion batteries. JSW Green Mobility Ltd will invest Rs 27,200 crore in Chhatrapati Sambhajinagar, aiming to create 5,200 jobs. This investment will focus on electric and hybrid vehicles, chargers and modules.
AWAADA Electro Limited will invest Rs 13,467 crore across two plants, with Rs 13,000 crore in Nagpur and Rs 647 crore in Panvel. The company will manufacture solar PV modules and electrolysers, aiming to create 8,000 jobs. Pernod Ricard India Pvt Ltd will start a malt spirit production and manufacturing plant in Nagpur, investing Rs 17,856 crore.
By attracting such investments just before the state assembly polls, the Mahayuti government aims to counter the narrative set by the opposition Maha Vikas Aghadi (MVA) that this administration has allowed major industries and new investments to go to other states, causing revenue loss and lack of employment opportunities for the youth. Sources said the state government is in talks with several other industries to bring additional investment and create further employment opportunities.
After the Boeing and Vedanta Foxconn projects went to other states, the MVA staged protests across the state, demanding answers from the government. The MVA also targeted the central government for not allocating significant projects to Maharashtra, accusing it of prioritising Gujarat.
