Maharashtra announces investments worth Rs.23,850 crore

The Maharashtra government Thursday said it has secured investments worth Rs.23,850 crore.

In an official announcement, Chief Minister Prithviraj Chavan said 32 agreements have been signed across various sectors that have a potential to create more than 20,000 jobs in the state.

Some of the major investors include the Tata Group, Mercedes and Bosche, Shree Uttam Steel and Power, Chavan said at an investor summit.

The biggest chunk of investments has come for the steel sector followed by automobiles and auto components.

Shree Uttam Steel and Power has committed Rs.11,156 crore to set up a 1.5 million tonnes hot-rolled coil plant and a 40-MW captive power plant in Sindhudurg district in the coastal Konkan region.

German luxury automobile major Mercedes Benz will invest Rs.1,500 crore to hike capacity at its existing plant at Chakan, Pune.

Namco Industries will invest Rs.857.50 crore for an electrical equipment plant in Raigad district while German auto component major Bosche will pump in Rs.753 crore to expand its heavy vehicles factory in Nashik.

Tata Auto Component Systems will invest Rs.702 crore to expand capacity at its Chakan plant and Swedish company SCA Hygeine Products will invest Rs.650 crore to manufacture tissues and other hygeine products at Rangangaon, Pune.

A ferrous casting and machinery plant costing Rs.550 crore will come up in Pune, courtesy component player Fenace Auto.

The investments have come under the 2005 Industrial Mega Project Policy in which the state government has so far approved 403 mega projects with an assured investment of Rs.321,099 crore with the potential to generate 357,000 new jobs.

Of these, 114 projects have already gone into production.

In the current fiscal (2013-2014), the state approved 25 mega projects worth Rs.9,725 crore that generated employment for 13,721 people.