Economics
Maharashtra Approves Rs 70,000 Crore Investments, Over Rs 40,000 Crore Goes To Backward Gadchiroli And Chandrapur Districts
Maharashtra deputy CM Devendra Fadnavis and CM Eknath Shinde at the second cabinet sub-committee meet on investments (@Dev_Fadnavis/Twitter)
The cabinet sub-committee of the Maharashtra government on Tuesday (13 December) approved investment proposals worth Rs 70,000 crore in various sectors.
These investments around Vidarbha, Marathwada, Nashik and Pune regions are expected to create 55 thousand jobs.
In the meeting chaired by chief minister (CM) Eknath Shinde, a detailed discussion was held regarding the incentive subsidy and other demands of these industrial units.
The cabinet sub-committee approved Rs 10,000 crore investment by Mahindra Electric Vehicle Automobiles for an electric vehicle (EV) manufacturing plant in Pune and Rs 4,206 crore investment in Nashik by Reliance Life Sciences.
In a move that can make Amravati and Nagpur region into a textile hub, the government granted its nod for Rs 2,500 crore investment by Indorama in the textile industry.
This is the second meeting regarding investments held by the new BJP - Shiv Sena government. In the previous meeting held in October of this year, investments worth Rs 25,368 crore with a potential to generate 7,430 direct employment opportunities were approved.
The cabinet sub-committee in its second meet approved the construction of three major projects in Naxal-affected districts like Gadchiroli and Chandrapur in the backward Vidarbha region.
This includes Rs 20,000 crore investment by Nuera Cleantech Solutions at Chandrapur for a Coal Gasification Project to produce green hydrogen, methanol, ammonia and urea etc.
Beside this, Lloyd Metals Energy Ltd will be investing Rs 20,000 crore to build a steel plant at Gadchiroli.
Also, the committee approved Varad Ferro Alloy's Rs 1,520 crore investment project in Gadchiroli.
Gadchiroli district is located in the eastern most corner of Maharashra. It is bordered by Chattisgarh and Telangana states on three sides.
Almost 35 per cent of the district is covered by forest and is part of 117 aspirational districts in the country.
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