Maharashtra approves four high-tech projects worth Rs 1.17 lakh crore in key regions, creating 29,000 jobs and advancing semiconductor and EV manufacturing.
The Maharashtra government has recently sanctioned four advanced technology mega projects across various regions, including Marathwada, Vidarbha, Pune, and Panvel, which are near Mumbai. These initiatives collectively involve an investment of approximately Rs 1.17 lakh crore and are expected to create about 29,000 job opportunities. This decision was made during a session of the cabinet subcommittee of the industries department held on a Thursday evening, as stated by officials.
These ventures aim to foster investments primarily in the semiconductor and electric vehicle manufacturing sectors. An official statement from the Chief Minister’s Office (CMO) released on Friday highlighted that these projects would position Maharashtra as a leading state in the electric vehicle industry. Furthermore, they are anticipated to cultivate a robust local supply chain, significantly enhancing technical innovation, research, and development activities, as expressed by Chief Minister Shinde.
Chief Minister Shinde emphasised that these projects would not only support micro, small, and medium industry stakeholders but also facilitate skill development and training for the local workforce. This initiative is expected to enhance employability and elevate the skills necessary to handle emerging technologies.
According to the CMO, a collaborative mega semiconductor manufacturing project between Tower Semiconductor and Adani Group is slated to commence at Panvel in the neighbouring Raigad district. The project is planned to be executed in two phases, with an initial investment of Rs 58,763 crore and a subsequent Rs 25,184 crore, culminating in a total investment of Rs 83,947 crore. This project alone is anticipated to generate employment for 15,000 individuals.
Additionally, Skoda Auto Volkswagen India is set to establish an electric vehicle manufacturing facility in Pune with an investment of Rs 12,000 crore, which is expected to create jobs for 1,000 people.
The CMO further disclosed that Toyota Kirloskar Motor Company would initiate another major electric vehicle manufacturing project in Chhatrapati Sambhajinagar, with an investment projected at Rs 21,273 crore and an anticipated job creation for 12,000 individuals. This project is likely to have a significant positive impact on the MSME sector in Marathwada, where Chhatrapati Sambhajinagar is located, and contribute to the reduction of greenhouse gas emissions.
The subcommittee meeting in July had previously approved projects totalling Rs 80,000 crore, while in the past two months, projects worth Rs 2 lakh crore have been approved, anticipated to generate 35,000 jobs.
In a notable decision from the cabinet subcommittee session on July 30, the first semiconductor manufacturing project in the state by RRP Electronics received approval. Additionally, the project by Toyota Kirloskar in Chhatrapati Sambhajinagar marks the second significant venture in the electric vehicle sector, following an earlier approval for a JSW Green Mobility manufacturing facility.
