Maharashtra Assembly Elections 2024 | Mahayuti govt approves two mega projects in aerospace, silicon wafers-fab sectors ahead of polls

Mumbai: Maharashtra Chief Minister Eknath Shinde on Friday gave approval to two projects in Ratnagiri with an investment of Rs 29,550 crore that will generate 38,120 jobs, including a mega project in the aerospace and defence sector by Reliance Infrastructure.

These projects based on higher technology will include Silicon wafers, ATMP, fab, aerospace and defence, an official release said, adding the decisions were approved in the cabinet sub-committee of the industries department chaired by the CM.

"This is the third mega project in the state producing Silicon wafers, Fab, ATMP. It is a venture of Information Technology Park company situated in Vellore. This project will come up in Watad and Jhadgaon MIDC. Total investment of Rs 19,550 crore will be made in this project and 33,000 direct and indirect employment will be generated," it said.

The second project will be set up by Reliance Infrastructure Company and it is related to production of aerospace and equipment required in the security sector, the release said.

"A total of Rs.10 ,000 crore will be invested in this project and 4,500 jobs will be generated. This is the first ever mega project in the state in the aerospace and security sectors. Both these projects will give a boost to employment. Business initiatives will be established which in turn will promote the local economy to a larger extent," the release said.

It will also give a fillip to technical innovation research and development and help in developing a strong local supply chain as well as benefit micro, small and medium industries on a larger scale, the release added.

"The projects will help impart training to local workers and make available skill development opportunities. This will definitely help in creating employability and enhance the innovative technology skills in the region," it added.