(MENAFN- IANS) Mumbai, Oct 4 (IANS) Maharashtra Chief Minister Eknath Shinde-led state Cabinet on Friday approved two projects with an investment of Rs 29,550 crore in Watad, Jhargaon industrial estate of the Maharashtra Industrial Development Corporation in the coastal Ratnagiri district, an official said.
These projects will create 38,120 jobs, the official said, adding the advanced technology based projects include Silicon Wafers, ATMP, Fab and Space Technology (Aerospace) and Defence.
The Vellore Information Technology Park company will invest Rs 19,550 crore to manufacture high-tech silicon wafers, fabs, ATMPs. The project will come up in the Watad, Jhargaon MIDC area. It will create 33,000 direct and indirect jobs, a statement noted.
Besides, a leading business house will invest Rs 10,000 crore to produce materials in the aerospace and defence sector. The project will generate 4,500 jobs. According to the Chief Minister's Office, this is the first mega project in the state in the field of aerospace and defence.
A statement noted that both these projects will significantly boost the local economy by creating more jobs and increased commercial activities in the area.
These projects will promote technological innovation research and development, develop a strong local supply chain and help the micro, small and medium enterprise sector to grow. These projects will provide training and skill development opportunities for local workers basically to help increase their employability and skills in emerging technologies, said the CMO in a release.
Meanwhile, the state Cabinet on Friday also approved the establishment of Maharashtra Marine Fishermen Welfare Corporation for the welfare of marine fishermen. The Minister of Fisheries will be the Chairman of the Corporation. Six posts will be created for this. The government will make available a one time grant of Rs 50 crore.
Further, the Cabinet also cleared the establishment of Maharashtra Ground Reservoir Fishermen Welfare Corporation to provide benefits of various schemes to fishermen with Nagpur as its headquarters.
The Minister of Fisheries will head the proposed corporation which will work to create employment opportunities for fishermen, suggest measures for fish conservation and safeguard the interests of traditional fishermen.
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