The <a href="https://www.mid-day.com/mumbai/mumbai-news/article/adani-plans-usd-10-billion-semiconductor-project-with-israels-tower-23388202" target="_blank" rel="none noopener">Maharashtra government</a> has given approval to four high technology mega projects, which entail a cumulative investment of Rs 1.17 lakh crore and with a potential of creating 29,000 jobs, in Marathwada, Vidarbha, Pune and Panvel near Mumbai.
The decision was taken at a meeting of the cabinet sub committee of the industries department on Thursday evening, officials said.
The projects would result in investment in sectors like semiconductors and electric vehicle manufacturing, a statement from the chief minister's office (CMO) said on Friday, adding it would help Maharashtra get the identity of a leader state in the EV sector.
These projects would help develop a strong local supply chain and give major boost to technical innovation, research and development, CM Shinde said.
"It would help micro-small and medium industry stakeholders and also enable the local labour force to get training and skill development opportunities, which would raise employability and the skill bar needed for upcoming technologies," he said.
As per the statement, Tower Semiconductor company and Adani Group would jointly launch a mega semiconductor manufacturing project at Panvel in neighbouring <a href="https://www.mid-day.com/search/raigad-articles" target="_blank" rel="none noopener">Raigad district</a>, with investment of Rs 58,763 crore in the first phase and Rs 25,184 crore in second phase. The total investment will be Rs 83,947 crore, and it would generate employment for 15,000 persons.
A electric vehicle manufacturing project of Skoda Auto Volkswagen India, with an investment of Rs 12,000 crore, will be set up in Pune and it would provide employment to 1,000 persons.
The CMO statement said Chhatrapati Sambhajinagar would be the location for a mega electric vehicle manufacturing project of Toyota Kirloskar Motor Company.
This project would have investment of Rs 21,273 crore and result in generation of 12,000 jobs.
The MSME sector in Marathwada, of which Chhatrapati Sambhajinagar is a part, would benefit from this project, while use of EVs will reduce greenhouse gases, the statement added.
"Under the textile policy, Raymond Luxury Cottons would set up a mega-project at Amravati for manufacturing products through spinning, yarn dyeing, weaving jute, weaving cotton, jute, mesta and cotton. This project would come up at Nandgaon Peth MIDC with an investment of Rs 188 crore. It would generate employment for 550 persons," the CMO statement informed.
The sub-committee meeting held in July had given nod for projects costing Rs. 80,000 crore, while projects entailing an investment of Rs 2 lakh crore were given nod in the last two months, which would result in generation of 35,000 jobs, it added.
The meeting of the cabinet sub committee held on July 30 gave approval for mega semiconductor manufacturing project of RRP Electronics, which is first semiconductor manufacturing project in the state.
The project by Toyota Kirloskar would the second in the EV sector in Chhatrapati Sambhajinagar as nod was given for a manufacturing facility by JSW Green Mobility.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

The Maharashtra government has given approval to four high technology mega projects, which entail a cumulative investment of Rs 1.17 lakh crore 

Maharashtra govt gives nod to 4 mega semiconductor, EV projects; Rs 1.17L cr investment proposed

Retired educators to tackle teacher shortages in Maharashtra's rural schools

The decision was taken at a meeting of the cabinet sub committee of the industries department on Thursday evening, officials said

Maharashtra govt gives nod to 4 mega semiconductor, EV projects

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / Mumbai / Mumbai News / Article / Maharashtra govt gives nod to 4 mega semiconductor, EV projects