Maharashtra signs MoUs with 25 firms worth Rs 61k cr
ROADS & HIGHWAYS

Maharashtra signs MoUs with 25 firms worth Rs 61k cr

The Maharashtra Government recently signed memorandums of understanding (MoUs) with 25 national firms to bring investment worth Rs 61,042 crore in the state, estimated to create about 2.53 lakh job opportunities.

The companies are largely from steel manufacturing, IT parks, logistics, chemicals, renewable energy, and battery manufacturing industries.

The state has managed to attract an investment of Rs 1 lakh crore during this year. It was a target set by the Chief Minister (CM) Uddhav Thackeray. During November, the state government signed MoUs worth Rs 34, 850 crore with over 15 national and international firms. Earlier this year, MoUs worth Rs 16,300 crore were signed by the state government with 12 major companies while inaugurating Magnetic Maharashtra 2.0, the second phase of a global investors’ summit held in February 2018.

The largest investment deal was signed with JSW Steel, which is looking to expand its existing plant at Dolvi, located in Raigad district, and reach a capacity of 14 million tonnes per annum at an investment of Rs 20,000 crore.

Kirtikumar Steel Udyog, another steel manufacturer, has proposed a Rs 7,000 crore plant at Wada, Thane. Additionally, Indian Corporation Logistics intends to invest Rs 11,049 crore in Bhiwandi, Thane. Whereas, Inspira Infra Limited would invest Rs 7,500 crore at a plant-based in Aurangabad.

Exide batteries would invest Rs 500 crore in a plant in Phaltan, Satara.

The Maharashtra Government recently signed memorandums of understanding (MoUs) with 25 national firms to bring investment worth Rs 61,042 crore in the state, estimated to create about 2.53 lakh job opportunities. The companies are largely from steel manufacturing, IT parks, logistics, chemicals, renewable energy, and battery manufacturing industries. The state has managed to attract an investment of Rs 1 lakh crore during this year. It was a target set by the Chief Minister (CM) Uddhav Thackeray. During November, the state government signed MoUs worth Rs 34, 850 crore with over 15 national and international firms. Earlier this year, MoUs worth Rs 16,300 crore were signed by the state government with 12 major companies while inaugurating Magnetic Maharashtra 2.0, the second phase of a global investors’ summit held in February 2018. The largest investment deal was signed with JSW Steel, which is looking to expand its existing plant at Dolvi, located in Raigad district, and reach a capacity of 14 million tonnes per annum at an investment of Rs 20,000 crore. Kirtikumar Steel Udyog, another steel manufacturer, has proposed a Rs 7,000 crore plant at Wada, Thane. Additionally, Indian Corporation Logistics intends to invest Rs 11,049 crore in Bhiwandi, Thane. Whereas, Inspira Infra Limited would invest Rs 7,500 crore at a plant-based in Aurangabad. Exide batteries would invest Rs 500 crore in a plant in Phaltan, Satara.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code