Maharashtra: Investment Proposals Worth Over Rs 1.35 Lakh Crore Approved, To Generate 1 Lakh Jobs

(MENAFN- IANS) Mumbai, July 2 (IANS) The Maharashtra cabinet subcommittee, headed by Chief Minister Devendra Fadnavis, on Wednesday gave approval for investment proposals worth Rs 1,35,371.58 crore for the thrust sector and high technology-based projects in the state.

The move is expected to promote industries and generate one lakh direct and indirect jobs in the state. These projects will also boost technological innovation, research and development.

The meeting approved special incentives for a total of 19 mega, large and very large projects, considering the investment and employment generation in these projects. Out of these, it has been decided to approve special incentives for 17 projects.“These projects include companies manufacturing semiconductors, silicon, ingots and wafers, cells and modules, electric vehicle materials, lithium ion batteries, space and defence materials, textile industry, green steel projects, green field gas to chemical, etc, products. These 17 projects will bring in new investments worth Rs 1,35,371.58 crore in the state, through which a total of approximately 1 lakh direct/indirect employment will be created in the state in the coming period,” said the government in a statement.

The committee also decided to provide capital subsidy, electricity tariff concession, interest rate concession, industrial incentive subsidy, return of ownership interest, concession in State Employees Provident Fund refund and return of Employees Provident Fund refund to industries. Apart from this, it was decided to increase the number of thrust sectors and high-technology-based projects from 22 to 30, acquire and allocate land in Dapchari and Vankas in Palghar district.

The proposals approved on Wednesday include Paras Defence and Space Technology in Navi Mumbai, Jupiter Renewable Pvt Ltd in Nagpur, Reliance Infrastructure, BSL Solar Pvt Ltd, Shrem Bio Fuel Pvt Ltd, Hyundai Motor India in Pune, Uno Minda Anto Innovation Pvt Ltd, Air Liquide India Holding Pvt Ltd, Essar Exploration and Production Ltd in Raigad, Balasore Alloys Ltd and Surjagad Ispat Pvt Ltd in Gadchiroli, Suflam Industries Ltd, Suflam Metal Pvt Ltd, Kirtisagar Metalloy Pvt Ltd and General Polyfilms Pvt Ltd in Nandurbar, NPSPL Advanced Materials Pvt Ltd in Chhatrapati Sambhaji Nagar, Suflam Industries Ltd in Gondia, and Vardhan Agro Processing Ltd in Satara.

“These projects will boost technological innovation, research and development, and develop a strong local supply chain, benefiting the micro, small and medium enterprises. These projects will provide a large amount of investment and employment in the semiconductor, steel, and electric vehicle manufacturing sectors in the state. It will benefit the local economy and the overall development of the state, promoting technological innovation, research and development. It will also help increase employability and skills in emerging technologies,” said the Chief Minister's office in the statement.

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