Mumbai, April 16 (NationPress) The Maharashtra administration recently formalized two Memorandums of Understanding (MoUs) amounting to Rs 1.75 lakh crore with JW Global Group and Shyam Steel, covering diverse sectors such as solar energy, artificial intelligence, green hydrogen, nuclear power, and steel production.

Out of the total Rs 1.75 lakh crore, JW Global and The Seed Consortium are set to contribute Rs 1,65,000 crore, with a focus on sustainable energy and cutting-edge technology. These agreements were finalized under the watchful eye of Chief Minister Devendra Fadnavis.

As per the government’s announcement, the Seed initiative comprises four major projects designed to establish Maharashtra as a worldwide leader in sustainable development.

Among the Rs 1,65,000 crore investment, the most substantial single investment will be Rs 1,13,907 crore earmarked for creating a sustainable artificial intelligence campus and a Data Centre.

The anticipated 1.4 GW facility is projected to be pivotal to India’s burgeoning artificial intelligence sector, potentially generating up to 10,000 construction jobs and 750 permanent positions.

Additionally, the consortium aims to implement KAERI Smart C technology (440 MW twin units) to ensure continuous carbon-free captive energy supply.

They will also introduce a 2 GW floating solar photovoltaic plant at the Ujani dam in Solapur district, complemented by a 1,000 MW battery energy storage system (costing Rs 14,976 crore).

Moreover, a facility utilizing Haffner SYNOCA technology will be developed at a cost of Rs 3,071 crore to produce 6,900 metric tonnes of green hydrogen annually, aiding the state’s shift towards cleaner energy sources.

This initiative is expected to create 15,000 construction jobs and approximately 2,000 permanent technical roles, as stated in the release.

On another front, Shyam Steel will invest Rs 10,000 crore to establish an integrated steel plant capable of producing 2 million tonnes annually in Chandrapur district.

This venture is predicted to indirectly provide employment for over 4,000 individuals and includes the setup of a 260 MW captive power facility.

Chief Minister Devendra Fadnavis remarked that Maharashtra has entered a transformative phase of industrialization, propelled by strategic policy reforms aimed at converting investment potential into tangible outcomes.

He highlighted that the state administration is extending comprehensive assistance to investors, pointing to the multi-billion-dollar investments from JW Global Group and Shyam Steel as key indicators of this thriving industrial environment.

CM Fadnavis underscored the government’s commitment to streamlining the business establishment process.

He noted that Maharashtra is leading nationally in the Small Modular Nuclear Reactor sector, following the Central Government’s approval for private investments in civil nuclear energy. Two MoUs have already been executed in this groundbreaking area.

“The state government is dedicated to fully supporting any industrial entity looking to invest in any part of Maharashtra,” the Chief Minister asserted, inviting more global investors to the state.

He further stated that this significant influx of capital is anticipated to greatly enhance the state’s GDP and reinforce Maharashtra’s status as a leading global hub for sustainable and high-tech industries.

“The MoU is aimed at facilitating time-sensitive investments focused on extensive clean energy initiatives, sustainable infrastructure, and advanced technological advancement,” noted P Anbalagan, Principal Secretary of the Industries Department.