Maharashtra Greenlights ₹89,731 Crore Mega Industrial Boost

The Government of Maharashtra has approved industrial investment proposals worth ₹89,731 crore under its industrial promotion policy, aimed at strengthening high-technology manufacturing and generating around 20,000 employment opportunities across regions including Vidarbha, Marathwada and Nashik.

The approvals were granted during a Cabinet sub-committee meeting chaired by Devendra Fadnavis, with participation from Deputy Chief Ministers Eknath Shinde and Ajit Pawar, along with senior ministers and officials.

Among the approved projects, Akshat Greentech will establish a ₹12,500-crore solar cell, module, ingot and wafer manufacturing facility in Chhatrapati Sambhajinagar, which is expected to create around 4,000 employment opportunities.

NLMK India Coating has proposed an investment of ₹840 crore for a grain-oriented electrical steel manufacturing plant in Aurangabad with an annual production capacity of 64,000 tonnes.

Meanwhile, HS Hyosung India will invest ₹1,740 crore in a tyre cord manufacturing facility in Nagpur, which is expected to generate employment for around 400 people.

Graphite India has also announced a ₹4,651-crore investment in a synthetic graphite anode material plant for lithium-ion batteries in Nashik, with the project expected to create approximately 1,166 jobs.

The largest approved investment is a ₹70,000-crore integrated coal gasification and downstream derivatives project proposed by Adani Enterprises in Nagpur.

Officials stated that the projects will be implemented in phases over the next three to ten years and are expected to significantly strengthen Maharashtra’s industrial ecosystem while driving employment generation and infrastructure development across the state.

News by Rahul Yelligetti.