Maharashtra govt seeks corporate investment for its mega project

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The Maharashtra government is taking lead in attracting investment worth over Rs 2.50 lakh crore in 295 mega projects under its Industrial Mega Projects Policy. These projects are expected to generate employment opportunities for three lakh persons. The policy was announced by the state government on June 2, 2005 to attract more investment from foreign and Indian companies in the state and generate employment opportunities as well as to compete with other state.

Under this policy 52 new mega projects have been approved with an assured investment of Rs 672.42 billion in the first half of the current year and revised project cost of 11 projects are sanctioned with an investment of Rs 428.58 billion. In this way total 52 mega projects with approximate investment of Rs 1,10,000 crores and creating employment opportunities for 37,007 persons have been approved.

Further, the government of Maharashtra has recently granted a status of mega project and incentives under mega project policy for additional eight companies investing around Rs 6,500 crore in the state. These companies with whom MOUs have been signed are: Uttam Galva Steel Ltd, Jai Bhole Cement Combine Pvt Ltd, Thermax Babcock & Wilcox Energy Solutions Pvt Ltd, Tetra Pak India Pvt Ltd, Nipro India Corporation Pvt Ltd, Maharashtra Seamless Ltd, Soktas India Pvt Ltd and Forbes Marshall Private Limited.

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