Policy

Maharashtra's 'mega project policy' attracts large-scale investments

PTI Pune | Updated on March 12, 2018

In its bid to project Maharashtra as a leading industrial destination, the State Government is banking on the latest “mega” investment made by the US giant General Electric into Rs 1,020-crore ($200-million) manufacturing facility at Chakan near here.

The industrial ‘mega project policy’ of the State Government framed to attract more investments and generate employment opportunities have been receiving a “tremendous response” channelising both domestic as well as foreign investment on a large-scale, according to statistics released by the State Industry Secretary, Mr K. Shivaji.

The Industry Secretary had on Friday signed the MoU between the Maharashtra Government and GE India Ltd, paving the way for the first phase of its Chakan plant to become operational in 2013 with a thrust on energy and transportation sector oriented products and solutions.

Under the mega project policy, the Maharashtra Government has so far approved 335 mega projects with an approximate investment of Rs 2,76,832 crore, creating employment opportunities for about 3.17 lakh people, the Industry Department noted.

“Out of these 335 projects, 95 projects have gone into production and 253 projects with an approximate investment of Rs 1.75 lakh crore will be set up in backward areas of the state,” it added.

The facts and figures released by the State Industry Department assume an added significance at a time when the issue of Maharashtra’s traditional status as a major industrial state has become a topic of discussion following the statement of NCP President, Mr Sharad Pawar, that the state has been losing on the industrial front in the past few years.

Published on June 16, 2012

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