ENA State 2024-09-06 14:03:52 <p><span style="font-size:14px"><strong>New Delhi, Sep 6 (KNN)</strong> In a significant move ahead of state elections, the Maharashtra cabinet sub-committee on industries has given the green light to four major projects with a combined investment of Rs 1.17 lakh crore.</span></p> <p><span style="font-size:14px">The decision was made during a meeting chaired by Chief Minister Eknath Shinde on Thursday.</span></p> <p><span style="font-size:14px">The largest of these projects is a semiconductor manufacturing facility to be jointly established by Israel's Tower Semiconductor and the Adani Group in Panvel, Raigad district.</span></p> <p><span style="font-size:14px">The project, with a total investment of Rs 83,947 crore to be implemented in two phases, is expected to create 15,000 jobs.</span></p> <p><span style="font-size:14px">The first phase will see an investment of Rs 58,763 crore, followed by Rs 25,184 crore in the second phase.</span></p> <p><span style="font-size:14px">Two major automotive companies have received approval for electric vehicle (EV) manufacturing projects.</span></p> <p><span style="font-size:14px">Skoda Auto Volkswagen India Company plans to invest Rs 12,000 crore in Pune for a new EV manufacturing facility, potentially creating 1,000 jobs.</span></p> <p><span style="font-size:14px">Additionally, Toyota Kirloskar Motor Company will establish an EV manufacturing unit in Chhatrapati Sambhajinagar with an investment of Rs 21,273 crore, expected to generate 12,000 jobs.</span></p> <p><span style="font-size:14px">In the textile sector, Raymond Luxury Cottons will invest 188 crore in Nandgaonkar Peth, Amravati, to develop a facility for spinning, yarn dyeing, and weaving jute and cotton.</span></p> <p><span style="font-size:14px">Chief Minister Shinde emphasised that these investments, particularly in semiconductor and EV manufacturing, will boost direct and indirect employment opportunities and strengthen Maharashtra's position as a leading state in EV production.</span></p> <p><span style="font-size:14px">He also noted the potential benefits for micro, small, and medium enterprises.</span></p> <p><span style="font-size:14px">It's worth noting that the Ministry of Electronics and IT (MeitY) has not yet approved Tower and Adani's semiconductor unit application for subsidy under the Centre's Rs 76,000 crore India Semiconductor Mission.</span></p> <p><span style="font-size:14px">A senior government official, speaking on condition of anonymity, stated that the application is currently under evaluation.</span></p> <p><span style="font-size:14px">The process for securing central subsidy involves submitting an application, vetting by a technical committee, and final approval from the Union Cabinet.</span></p> <p><span style="font-size:14px">These investments represent a significant development for Maharashtra's industrial sector, potentially creating approximately 29,000 jobs across various regions of the state.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39183 https://knnindia.co.in/news/newsdetails/state/maharashtra-approves-major-investment-projects-worth-rs-117-lakh-crore 2024-09-06 14:03:52 knnindia.co.in