JSW Group signs MoU with Maharashtra to invest ₹3,00,000 crore in Gadchiroli

The MoU was one of 20—and the largest—the state government signed on the sidelines of the annual meeting of the World Economic Forum (WEF) in Davos

Mumbai: The JSW Group on Tuesday announced it had signed a memorandum of understanding (MoU) with the Maharashtra government to invest ₹3,00,000 crore across sectors in the Naxal insurgency-affected Gadchiroli district.

Chief minister Devendra Fadnavis, who is heading the state’s delegation in Davos, said the investments would boost Maharashtra’s industrial growth and sustainable development. (PTI)

The MoU was one of 20—and the largest—the state government signed on the sidelines of the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, with a total investment value of around ₹5,00,000 crore. An MoU is a formal, non-binding agreement between two or more parties.

Among other companies with whom the Maharashtra government signed MoUs on Tuesday is ⁠Belgium-based brewing company AB InBev, which is looking to set up a plant in Chhatrapati Sambhajinagar by investing ₹750 crore. AB InBev owns beer brands such as Budweiser, Corona, and Stella Artois, among others. Meanwhile, Mumbai-headquartered solar PV module manufacturer Waaree Energies plans to invest ₹30,000 crore to set up a plant in Nagpur.

Chief minister Devendra Fadnavis, who is heading the state’s delegation in Davos, said the investments would boost Maharashtra’s industrial growth and sustainable development.

The JSW Group MoU covers critical sectors such as steel, renewable energy, infrastructure and cement, lithium-ion batteries, solar wafers and cell modules, further cementing Maharashtra’s position as the country’s leading industrial hub. Fadnavis has been promoting the steel and mining industries in the Gadchiroli district, with his government claiming the activities of extremists are on the decline.

Fadnavis said the MoU is a significant step in fulfilling his government’s vision to develop Gadchiroli as the steel city of the country. “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,” he said.

The Maharashtra government will facilitate the investment by expediting clearances, providing fiscal incentives, and ensuring the availability of land, water, power and other infrastructure as per its industrial policy.

Other companies that have signed MoUs with the state government are Blackstone-Panchshil Realty ( ₹25,000 crore), ZR2 Group ( ₹17,500 crore), Balasore Alloys Limited ( ₹17,000 crore), Reliance Infrastructure ( ₹16,500 crore), Viraj Profiles ( ₹12,000 crore), H2E Power ( ₹10,750 crore), Avani Power Batteries ( ₹10,521 crore), Welspun ( ₹8,500 crore), Essar Group ( ₹8,000 crore), Kalyani Group ( ₹5,250 crore), Gensol ( ₹4,000 crore), Blue Energy Motors ( ₹3,500 crore), Elmont ( ₹2,000 crore), Tembo Global Industries ( ₹1,000 crore), BookMyShow ( ₹1,700 crore), ⁠and Bisleri International ( ₹250 crore).