State signs MoUs worth Rs 6,452 cr | india | Hindustan Times
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State signs MoUs worth Rs 6,452 cr

The Maharashtra Govt signed Memoranda of Understanding worth Rs 6,452 crore, for setting up units in the industrially underdeveloped areas of Kolhapur, Chandrapur and Wardha, Zeeshan Shaikh reports.

india Updated: Feb 04, 2009 14:57 IST
Zeeshan Shaikh

The Maharashtra government on Tuesday signed Memoranda of Understanding (MoUs) worth Rs 6,452 crore, for setting up units in the industrially underdeveloped areas of Kolhapur, Chandrapur and Wardha.

Chief Minister Ashok Chavan signed the deals, which are expected to create over 2,000 new jobs in the state.

The major investments include a Rs 4,200-crore aluminum refinery and smelter complex in Ratnagiri, to be built by mining major Ashapura Minechem.

The other deals include one with Uttam Galva, for a Rs 1,096-crore steel plant in Wardha; one with Topworth Pipes, for a Rs 458-crore tubes-and-pipes unit in Raigad; a Rs 217-crore weaving and fabric unit at Kolhapur with Abhishek Corporation and a Rs 117-crore sponge iron project in Chandrapur district with Gopani Urban and Power.

“These investments during a time of global downturn is a stamp of approval from the investors for the state’s proactive investment and industrial policy,” Chavan said.

However, Maharashtra is still fast losing its place as favoured investment destination to Gujarat. During the recently held Vibrant Gujarat Global Investors’ Summit, the neighbouring state signed MoUs worth Rs 12 lakh crore.