JSW Group inks Rs 3 lakh cr MoU with Maharashtra to drive industrial growth and sustainability
Davos (Switzerland): JSW Group signed a Memorandum of Understanding (MoU) with the Maharashtra government on Tuesday to boost industrial growth and sustainable development.
Announced at the World Economic Forum (WEF) in Davos, under the MoU JSW Group will invest Rs 3 lakh crores across critical sectors in the state of Maharashtra, the conglomerate said in a press release.
“This will further cement the state’s position as India’s leading industrial hub,” read the release.
The investment will focus on key sectors like steel, renewable energy, EVs, lithium-ion batteries, solar wafer and cell modules and cement and infrastructure.
“This strategic initiative aims to create thousands of jobs, enhance industrial capabilities, and contribute to sustainable economic growth,” JSW Group said.
As per the MoU, the Maharashtra government 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.
Speaking on the occasion, Maharashtra Chief Minister Devendra Fadnavis said, “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.”
Fadnavis said the collaboration would further strengthen Maharashtra’s position as an industrial and economic powerhouse.
Chairman of JSW Group Sajjan Jindal said, “This investment will not only boost industrial development but also drive India’s green transition with sustainable technologies, clean mobility and renewable energy solutions.”
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