In a huge push for investment, the Maharashtra government has announced a major boost to its industrial sector with secured investments of Rs 1.2 lakh crore.
A cabinet sub-committee led by Chief Minister Eknath Shinde approved the projects which are expected to create thousands of jobs and advance technological development.
A semiconductor fabrication unit in Panvel, Mumbai, with an investment of about Rs 83,947 crore ($10 billion). This project, a joint venture between the Adani Group and Israel-based Tower Semiconductor, will be executed in two phases—Rs 58,763 crore for Phase 1 and Rs 25,184 crore for Phase 2.
Products to be manufactured here include analog/mixed signals, semiconductor manufacturing with capacity of 40,000 Wafers per month in Phase 1 and 80,000 Wafers per month after Phase 2.
It is anticipated to create around 5,000 jobs and enhance Maharashtra’s position in the global semiconductor market.
Skoda Volkswagen in Pune: The company plans to invest Rs 15,000 crore in electric and hybrid vehicle production at its Chakan facility in Pune. The investment is expected to generate over 1,000 jobs.
Toyota Kirloskar Motor: Toyota will invest Rs 21,273 crore to expand its hybrid and electric vehicle production at its Chhatrapati Sambhajinagar (Aurangabad) plant. Products that will be manufactured here include Hybrid vehicles, plugin hybrid vehicles, fuel cell EV, Battery Electric Vehicle.
From: financialexpress
Financial News
