JSW Group plans to invest Rs 3 lakh crore, read full details
JSW Group plans to invest heavily in Maharashtra. The group has signed an agreement with the Maharashtra government regarding the investment. The agreement has been announced at the World Economic Forum in Davos. The signing was done on Tuesday 21 January 2025. Many sectors will come under the purview of this ambitious investment. Which includes steel, renewable energy electric vehicle, battery manufacturing and cement sector. According to the group, the objective of the investment is to promote industrial growth and sustainable development. With this investment, the state’s position as the country’s leading industrial hub will be further strengthened.
What is the plan
According to the agreement, JSW Group will increase manufacturing capacity with the use of green technology in the steel sector. Along with this, the group will develop clean energy projects in the renewable energy sector. The group will set up a modern electric vehicle manufacturing unit in the state. Along with this, a manufacturing unit will also be set up for better performance EV batteries. Along with this, the group will also work in wafers and cell manufacturing in the field of solar energy in the state. The group will also invest in infrastructure and cement sector. It is expected that thousands of people will get employment in the state with this investment.
On the other hand, the state government will take steps to speed up the clearance process. Financial relief will also be given on investment. Along with this, availability of land, water and power will also be ensured so that the projects are completed quickly.
Speaking on this investment agreement, Maharashtra Chief Minister Devendra Fadnavis said that this agreement with JSW Group will help Gadchiroli take a big step towards making it India’s steel city. JSW Group Chairman Sajjan Jindal said that this investment is to speed up industrial development while advancing the green transition.
