JSW to invest in Maharashtra’s Steel City

Mumbai: In one of the biggest investments in Maharashtra, the JSW Group will invest around Rs 3 lakh crore in multiple projects across different sectors including the Gadchiroli district, where India’s second Steel City after Jamshedpur is coming up. 

The Centre and the Maharashtra government are giving a major push to industrialisation in the tribal district of Gadchiroli, which was once affected by Naxalism. 

In fact, Fadnavis spent his New Year's Day in Gadchiroli district, during which he launched several projects and said - “Naxalism is nearing its end in Maharashtra”. 

The move by Fadnavis has earned praise not only from Prime Minister Narendra Modi but also from leaders of opposition parties like Uddhav Thackeray-led Shiv Sena (UBT) and Sharad Pawar-headed NCP (SP). 

Announced at the World Economic Forum (WEF) in Davos, this ambitious partnership will further cement the state’s position as India’s leading industrial hub.

The MoUs were signed by the Maharashtra Chief Minister Devendra Fadnavis and state Industries Minister Uday Samant.

“Signing of an MoU with JSW Steel, a company with diverse investments across key sectors such as steel, solar, auto, and cement in Maharashtra, is a significant step in fulfilling our vision to developing Gadchiroli as the ‘steel city’ of India,” said Fadnavis, who is also the guardian minister of the Gadchiroli district. 

“JSW’s continued commitment to Maharashtra, including their focus on electric vehicles and sustainability, is a clear testament to their confidence in our state’s potential. I am confident that this collaboration will further strengthen Maharashtra’s position as an industrial and economic powerhouse, driving innovation, job creation, and long-term prosperity for our people,” said Fadnavis. 

The areas where the Maharashtra government and JSW signed MoUs are  Steel (expansion and enhancement of steel manufacturing capacities with clean green technology), Renewable Energy (pioneering green energy projects for a sustainable future), Electric Vehicles (establishing advanced manufacturing units for new-age electric vehicles), Lithium-Ion Batteries (developing facilities for high-performance EV batteries, Solar Wafer and Cell Modules  (strengthening the solar energy ecosystem) and  Infrastructure and Cement (driving Maharashtra’s infrastructural transformation).

This strategic initiative aims to create thousands of jobs, enhance industrial capabilities, and contribute to sustainable economic growth. As per the MoU, the Government of Maharashtra will facilitate the investment by expediting clearances, providing fiscal incentives, and ensuring the availability of land, water, power, and other infrastructure as per state policies.

JSW Group Chairman Sajjan Jindal said the MoU reflects our unwavering commitment to Maharashtra, a state that has been pivotal to JSW Group’s journey of growth and innovation. 

“Through this partnership, we take another step towards Modi’s vision of Clean and Green Bharat. This investment will not only boost industrial development but also drive India’s green transition with sustainable technologies, clean mobility, and renewable energy solutions," he said. 

The partnership is poised to reinforce Maharashtra’s position as a top destination for investment, aligning with the state’s vision of inclusive and sustainable economic development.