Maharashtra Signs ₹80,962 Crore Investment Pacts at Steel Mahakumbh, Over 40,000 Jobs to be Created

Maharashtra has secured a massive investment boost with the signing of nine Memorandums of Understanding (MoUs) worth ₹80,962 crore during the Steel Mahakumbh event held in Goregaon, Mumbai. The agreements, signed in the presence of Chief Minister Devendra Fadnavis, Union Minister Pralhad Joshi, and Industries Minister Uday Samant, mark a significant milestone for the state’s industrial and employment growth.

These projects are expected to generate more than 40,300 jobs across key districts, including Gadchiroli, Chandrapur, Nagpur, Wardha, Raigad, Chhatrapati Sambhajinagar, and Satara. The investments highlight Maharashtra’s strong position as a preferred destination for large-scale industrial projects, especially in the steel and allied sectors.

Among the major announcements, Jindal Stainless will set up a stainless steel unit in Raigad with an investment of ₹41,580 crore, expected to create 15,500 jobs. Rashmi Metallurgical Industries will invest ₹25,000 crore in an integrated steel plant in Wardha, generating employment for nearly 12,000 people. Both projects underline the increasing investor confidence in Maharashtra’s industrial ecosystem.

Further strengthening the state’s growth in advanced materials, NPSPL Advanced Material (Atha Group) has committed ₹5,440 crore to build a lithium battery material and carbon complex in Chhatrapati Sambhajinagar, bringing 5,000 jobs. Gadchiroli will see joint ventures by Sumedh Tools and Hariom Pipe Industries worth ₹5,135 crore, creating another 5,500 employment opportunities.

Other notable projects include units by Icon Steel, Filtrum Autocomp, G R Krishna Ferro Alloys, and Jaydeep Steelwork India, further diversifying the state’s industrial base. Collectively, these investments are expected to strengthen supply chains, create ancillary industries, and contribute to regional economic development.

Speaking at the event, Chief Minister Devendra Fadnavis emphasized that the government is committed to creating an industry-friendly environment with world-class infrastructure and seamless clearances to attract large-scale investments.

With these fresh commitments, Maharashtra is positioning itself as a hub not just for steel, but also for advanced materials and allied industries, opening up new avenues of growth and employment.