JSW signs MoU to invest ₹3 lakh crore in Maharashtra – EQ
In Short : JSW Group has signed a Memorandum of Understanding (MoU) to invest ₹3 lakh crore in Maharashtra. The investment will be directed towards a range of sectors, including steel, energy, and infrastructure, aimed at enhancing the state’s industrial growth and boosting job creation. This strategic move underscores JSW’s commitment to supporting Maharashtra’s economic development and contributing to India’s broader industrial and sustainability goals.
In Detail : The JSW Group has signed an agreement with the Government of Maharashtra at the World Economic Forum in Davos to invest Rs 3 lakh crore in the state, across several sectors.
The investment will focus on key sectors such as steel, renewable energy, electric vehicles, lithium-ion batteries, solar wafer and cell modules and infrastructure, a release said.
According to the preliminary agreement the company will expand and enhance steel manufacturing capacities, set up green energy projects, establish advanced manufacturing units for new-age electric vehicles, develop facilities for high-performance EV batteries, and drive Maharashtra’s infrastructural transformation.
The group said the strategic initiative aims to create thousands of jobs, enhance industrial capabilities, and contribute to sustainable economic growth.
As per the MoU, the Government of Maharashtra will facilitate the investment by expediting clearances, providing fiscal incentives, and ensuring the availability of land, water, power, and other infrastructure as per State policies.
Speaking on the occasion, Devendra Fadnavis, Maharashtra Chief Minister said “Signing of an MoU with JSW Steel, a company with diverse investments across key sectors such as steel, solar, auto, and cement in Maharashtra, is a significant step in fulfilling our vision to developing Gadchiroli as the ‘steel city’ of India.”
“This investment will not only boost industrial development but also drive India’s green transition with sustainable technologies, clean mobility and renewable energy solutions,” said JSW Group chairman, Sajjan Jindal.
The partnership is poised to reinforce Maharashtra’s position as a top destination for investment, aligning with the State’s vision of inclusive and sustainable economic development.
