JSW Group signs MoU with Maharashtra to invest Rs 3 lakh cr in Gadchiroli, 2 other regions

DAVOS: Diversified JSW Group on Tuesday announced plans to invest Rs 3 lakh crore across its businesses, in three regions of Maharashtra, including naxal-infested Gadchiroli.

The conglomerate signed a memorandum of understanding (MoU) with the Maharashtra government on the sidelines of the World Economic Forum (WEF) here.

The commitment from JSW is a significant step in fulfilling the state's vision to develop Gadchiroli as the 'steel city' of India, Chief Minister Devendra Fadnavis said, adding that the announcement is a clear testament to their confidence in the 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," the chief minister added.

JSW Group Chairman Sajjan Jindal said the state has been pivotal to JSW Group's journey of growth and innovation.

"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 added.

In a post on social media platform X, Maharashtra Chief Minister Office (CMO) said the areas of this investment like Renewable Energy, Infrastructure, Cement, Lithium-Ion Batteries, and Solar Modules will play a huge role in our mission 'Green Maharashtra'.

"Extremely happy to witness the historic Rs 3,00,000 crore MoU signing between Govt of Maharashtra & JSW Group, with an employment generation of 10,000 in the regions of Chhatrapati Sambhajinagar, Gadchiroli, and Nagpur !

"Very much thankful to Sajjan Jindal ji for being a part of this historic moment at Davos, which will give a huge boost to Maharashtra's industrial environment," the post said.

The investments will include expansion and enhancement of steel manufacturing capacities with clean green technology, green energy projects, establishing advanced manufacturing units for new-age electric vehicles, facilities for high-performance EV batteries and strengthening the solar energy ecosystem, according to a statement.

The state 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, it said.