Maharashtra Enters a New Phase of Industrial Expansion and Development

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Industrial-development

Maharashtra inked MoUs valued at Rs 3,16,300 crore, focusing on the domains of renewable energy and the establishment of an eco-friendly steel plant within the state. This investment is poised to generate over 83,900 job opportunities. The occasion was also attended by Chief Minister Eknath Shinde.

Contracts worth Rs 2,76,300 crore have been inked to initiate Green Hydrogen initiatives aimed at producing 910 KTPA of renewable energy and generating 63,900 job opportunities. Additionally, a separate memorandum of understanding (MoU) valued at Rs 40,000 crore has been established between the Government of Maharashtra and Arcelor Mittal Nippon Steel (AMNS) India to construct a Green Steel Plant within the state, promising 20,000 employment prospects.

These agreements were formalized at the Sahyadri guest house in Malabar Hill, in the presence of Chief Minister Eknath Shinde, Deputy CM Devendra Fadnavis, Principal Secretary of the energy department Abha Shukla, chairman of MSEB Lokesh Chandra, Director General of Maharashtra Energy Development Agency Kadambari Balkawade, and company representatives.

Shinde emphasized Prime Minister Narendra Modi’s emphasis on green hydrogen production and highlighted the state’s release of the Green Hydrogen Policy 2023, aligning with the National Hydrogen Mission’s objectives. Fadnavis commended Maharashtra as the pioneer in crafting an effective green hydrogen policy and reiterated PM Modi’s vision of decarbonizing India by 2030, emphasizing the role of green hydrogen technology in maintaining environmental equilibrium and energy sustainability.

Seven production companies, namely NTPS Green Energy, Avada Green Hydrogen, Renew E Fuels, Inox Air Products, LNT, Green Tech, JSW Green Hydrogen, and Welspun Godavari GH2, are set to invest in the state, collectively contributing to a hydrogen production capacity of 910KTPA and an annual reduction of 511 crore kg in carbon emissions.

Furthermore, an MoU with Arcelor Mittal Nippon Steel was formalized to establish a Green Steel Plant in Maharashtra, symbolizing a substantial investment of Rs 40,000 crore and facilitating the creation of 20,000 job opportunities, said Deputy CM Devendra Fadnavis.

Chief Minister Eknath Shinde highlighted the discussions held in Davos regarding this project and the importance of this MoU, underscoring the state’s capacity to accommodate further investments. Shinde also mentioned the interaction with industrialist Laxmi Mittal during the Davos visit, indicating Mittal’s interest in forging more partnerships with the state.

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