As the state of Maharashtra heads for assembly elections later this year, the government today approved projects that will see a total investment of Rs 120,220 crore and the creation of over 14,800 jobs in the state.
These investments are coming from automakers Skoda Volkswagen and Toyota Kirloskar Motor into the development of hybrids and electric vehicles (EVs). The other big investment was Rs 83,947 crore ($10 billion) announced by Adani Group and Israel’s Tower Semiconductor.
Skoda Volkswagen will be investing Rs 15,000 crore in setting up a manufacturing facility for EVs and hybrid cars at Chakan, Pune. In a post on X, Deputy Chief Minister Devendra Fadnavis said that the project will generate over 1,000 employment opportunities.
The state government also gave clearance to Toyota Kirloskar for setting up another EV facility in Aurangabad. The company will invest a total of Rs 21,273 crore and will create job opportunities for 8,800 people. The facility will manufacture a range of hybrids and EVs, including plug-in hybrids, fuel cell EVs, and batteries for EVs.
The largest investment came from the Adani Group and Tower Semiconductor. The plant will come up in Panvel, Raigad district, and will manufacture analogue and mixed signal integrated circuits. The facility will have an initial capacity of 40,000 wafers per month, and in Phase II it will increase to 80,000 wafers per month. This plant has the potential to generate employment for 5,000 people.
Though the Maharashtra government has cleared the semiconductor project, it still requires the central government’s nod. If the project gets clearance from the central government, this will be a huge boost for the state, which has lost a few projects to other states.
First Published: Sep 06 2024 | 8:31 PM IST
