Rs 70,000 Crore Investment Projects Approved In Maharashtra Cabinet Sub-Committee Meeting
Mumbai, 13th December 2022: Investment projects worth Rs 70,000 crores were approved in the fourth meeting of the Cabinet Sub-Committee of the Industries Department chaired by Chief Minister Eknath Shinde today (13th December) to promote industrial development in Vidarbha, Marathwada, Nashik, and Pune. It will create about 55,000 job opportunities.
Maharashtra has a conducive environment for industrial investment, and the state government has a policy of giving concessions to industries. On this occasion, the Chief Minister appealed to promote industrial growth positively.
Keeping in view the special needs of industries based on advanced technology, the Chief Minister suggested developing an Industrial Technology Park.
The Cabinet Sub-Committee meeting of the Industries Department was held today in the Ministry. Deputy Chief Minister Devendra Fadnavis, Industries Minister Uday Samant, Chief Secretary Manukumar Srivastava, Principal Secretary of Industries Department Dr Harshdeep Kamble, Principal Secretary of Finance Department OP Gupta, Principal Secretary Rajagopal Deora, Chief Executive Officer of Industrial Development Corporation Dr Vipin Sharma, Industrial Development Commissioner Dipendra Singh Kushwaha, and others were present.
Following the various demands of the industrial units in the state, considering the recommendations made earlier by the committee under the chairmanship of the Chief Secretary, a detailed discussion was held regarding the incentive subsidy and other demands of these industrial units.
In this meeting, the cabinet sub-committee has taken decisions to promote large industries based on new technology in underdeveloped areas of the state and to provide employment from these industries.
The cabinet sub-committee has approved the construction of three major projects in the Gadchiroli and Chandrapur districts of Vidarbha. Rs 20,000 crore investment was approved based on green technology. M New Era Cleantech Solutions Pvt. Ltd’s component includes a coal gasification project (green hydrogen, methanol, ammonia, urea) at Chandrapur. It will help the industry in the Chandrapur district by investing heavily. This area will contribute to social and economic development along with employment generation.
According to the electronic vehicle policy of the country and the state, the first project of Mahindra Electric Vehicle Automobiles, with an investment of Rs 10,000 crores in the field of electric vehicle manufacturing in the country, will be started in Pune. Through this, there will be foreign investment in high technology-based components in the state, prototypes will be made in technology, research, and development in Pune along with Volkswagen.
Due to this, IP (Intellectual property) is being created in the state regarding electric vehicle manufacturing, and its scope will be “Made in Maharashtra”. The project will create multiple allied industries in the surrounding area.
The cabinet sub-committee approved the establishment of a steel production project through mineral extraction and processing of M Lloyd Metals Energy Ltd. component and a total investment of Rs 20,000 crores in Gadchiroli district. It will help in large-scale development in Gadchiroli and employment generation along with necessary industrial growth in that context. A Rs 1,520 crore investment project was also approved for the Varad Ferro Alloy company.
The establishment of new industries in the Gadchiroli district will get stronger, and it will help the growth of new industries in the industrial sector in this area. Indorama’s subsidiaries have been approved for projects worth Rs 2,500 crore. As a result, Amravati and Nagpur will emerge as major areas in the textile industry.
Nipro Pharma Packaging India Pvt. Ltd. Company manufactures Clear Glass Tubing, Dark Amber Glass Tubing, Syringe & Cartridge Tubing under the new technology based Pharmaceutical Glass Tubing Production in Pune District. For construction in two phases, Rs 1,650 crore will be invested.
Employment generation will be available to 2,000 people directly and indirectly. At present, these products are imported, and this type of industry is going to be started for the first time in Maharashtra.
Rs 4,206 crore proposed investment of Reliance Life Science Nashik Company has been approved. This company is involved in Plaza Protein, Vaccine and Gene Therapy, etc. The project is going to be an important alternative project to manufacturing life-saving medicines. Along with these main projects, other projects with an investment of Rs 70,000 crores and around 55,000 jobs will be created in the state.
