Maharashtra signs MoUs for 6,455 cr of investment

Maharashtra signs MoUs for 6,455 cr of investment

Mumbai: The Maharashtra government on Tuesday signed eight memoranda of understanding (MoUs) with companies from sectors including steel, engineering, cement and packaging.

The investment agreements amount to 6,455.45 crore and are expected to create more than 5,000 jobs.

Uttam Galva Steel Ltd will invest 2,100 crore to expand its plant at Khopoli in Raigad district and construct a 120 megawatts (MW) captive power plant at the site.

Jai Bhole Cement Combine Pvt. Ltd will invest 1,501.97 crore to set up a greenfield cement plant with a capacity of 2 million tonnes (mt) at Welabi in Yavatmal district in the Vidarbha region.

Pune-based engineering solutions firm Thermax Ltd and its US-based joint venture partner Babcock and Wilcox Co. will invest 687 crore in Khandala, Satara, to produce boilers required for the power sector.

Swiss packaging company Tetra Pak’s Indian arm Tetra Pak India Pvt. Ltd will invest 594 crore to set up a plant to manufacture packaging material for the dairy and food-processing industries. Nipro India Corp. Pvt. Ltd, Maharashtra Seamless Ltd, Soktas India Pvt. Ltd and Forbes Marshall Pvt. Ltd also signed MoUs.

Industries minister Narayan Rane presented a new industrial policy to chief minister Prithviraj Chavan during the event at which the MoUs were signed. The new policy aims to attract 5 trillion in investment and create two million jobs in the next five years.

Infrastructure, food processing and textiles are the key focus areas of the industrial policy, said an official in the chief minister’s office, asking not to be identified.