Mumbai, April 16
The Maharashtra government on Thursday signed two Memorandums of Understanding worth Rs 1.75 lakh crore with JW Global Group and Shyam Steel in varied sectors, including solar, artificial intelligence, green hydrogen, nuclear, and steel manufacturing.
Of the Rs 1.75 lakh crore, JW Global and The Seed Consortium will invest Rs 1,65,000 crore focused on clean energy and advanced technology. These MoUs were signed in the presence of Chief Minister Devendra Fadnavis.
According to the government release, the seed initiative comprises four mega projects designed to position Maharashtra as a global hub for sustainable development.
Of the Rs 1,65,000 crore, the largest single investment package will be Rs 1,13,907 crore for the development of a sustainable artificial intelligence campus and Data Centre.
The 1.4 GW facility aims to serve as the backbone of India's growing artificial intelligence economy, potentially creating up to 10,000 construction jobs and 750 permanent jobs.
Further, the consortium plans to deploy KAERI Smart C technology (440 MW twin units) to provide 24/7 carbon-free captive power.
The consortium will establish a 2 GW floating solar photovoltaic plant on the Ujani dam in Solapur district with a 1,000 MW battery energy storage system (Rs 14,976 crore).
Moreover, it will develop a Rs 3,071 crore facility using Haffner SYNOCA technology to produce 6,900 metric tonnes of green hydrogen annually, supporting the state's transition to cleaner fuel.
The project will generate 15,000 construction jobs and roughly 2,000 permanent technical positions across the sectors, said the release.
Further, Shyam Steel will invest Rs 10,000 crore to develop an integrated steel plant with a capacity of 2 million tonnes per annum in Chandrapur district.
The project is expected to generate indirect employment for over 4,000 individuals. It also includes the establishment of a 260 MW captive power plant.
Chief Minister Devendra Fadnavis said Maharashtra has entered a new era of industrialisation, driven by strategic policy reforms designed to convert investment interest into operational reality.
He emphasised that the state government is providing comprehensive support to investors, citing the multi-billion-dollar investments by JW Global Group and Shyam Steel as prime examples of this booming industrial climate.
CM Fadnavis highlighted the government's efforts to simplify the process for setting up businesses.
He noted that Maharashtra is taking a national lead in the "Small Modular Nuclear Reactor" sector, following the Central Government's decision to permit private investment in civil nuclear energy. Two MoUs have already been signed in this pioneering field.
"The state government is committed to providing full cooperation to any industrial group interested in investing in any region of Maharashtra," the Chief Minister stated, inviting more global investors to the state.
He further added that this massive capital influx is expected to significantly boost the state's GDP and solidify Maharashtra's position as a premier global destination for sustainable and high-tech industries.
"The MoU aims to facilitate time-bound investments focused on large-scale clean energy, sustainable infrastructure, and advanced technology development," said P Anbalagan, Principal Secretary, Industries Department.
- IANS
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