Maharashtra signs MoUs worth Rs 80,962 crore at steel conclave; CM pushes reforms to cut red tape

Among the major commitments, Jindal Stainless Limited announced a Rs 41,580-crore stainless steel project in Raigad, projected to create 15,500 jobs.

Written by Vallabh Ozarkar

Updated: September 19, 2025 08:38 PM IST

3 min read

Several MoUs for medium-scale projects were also signed during the summit. (Image: @Dev_Fadnavis)

The state government on Friday signed nine Memorandums of Understanding (MoUs) worth Rs 80,962 crore with companies across the steel and allied sectors. These investments are expected to generate 40,300 jobs across Vidarbha, Marathwada, and Konkan regions.

The MoUs were signed at the Steel Mahakumbh, organised by the All India Induction Furnace Association (AIIFA) in Goregaon, Mumbai, in the presence of Chief Minister Devendra Fadnavis, Union Coal and Mines Minister Pralhad Joshi, and State Industries Minister Uday Samant.

Among the major commitments, Jindal Stainless Limited announced a Rs 41,580-crore stainless steel project in Raigad, projected to create 15,500 jobs. Rashmi Metallurgical Industries will set up a Rs 25,000-crore integrated steel plant in Wardha that is expected to employ 12,000 people.

In Aurangabad, NPSPL Advanced Material of the Atha Group will invest Rs 5,440 crore to establish a lithium battery material and carbon complex, generating 5,000 jobs. In Gadchiroli, Sumedh Tools Pvt Ltd and Hariom Pipe Industries will bring in a combined investment of Rs 5,135 crore, employing 5,500 people.

Several MoUs for medium-scale projects were also signed during the summit. These include Icon Steel India investing Rs 850 crore in Chandrapur, generating 1,500 jobs, Filtrum Autocomp setting up an auto steel parts plant at Wai in Satara with Rs 100 crore, creating 1,200 jobs, GR Krishna Ferro Alloys to invest Rs 1,482 crore in Mul, Chandrapur, with 500 jobs and Jaydeep Steelwork India establishing an ISP project in Nagpur with an investment of Rs 1,375 crore, creating 600 jobs.

Officials said the projects would significantly expand the manufacturing capacity in steel and battery materials and also create opportunities for downstream industries in logistics, services, and local supply chains.

They added that investments in Wardha, Nagpur, Gadchiroli, and Chandrapur would provide critical industrial employment in districts often grappling with agrarian distress and underdevelopment, while Raigad is set to emerge as a major investment hub in the Konkan.

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At a review meeting held earlier in the day at Sahyadri Guest House, Fadnavis directed officials to reduce the number of clearances required for setting up industries and to adopt digitisation to streamline the process.

He instructed the Urban Development Department to develop an AI-based online system for building permissions, enabling automatic processing of applications under a single-window mechanism that covers multiple departments.

“Entrepreneurs should not have to apply repeatedly. Green-category industries should be exempted from fresh approvals for a fixed number of years,” said Fadnavis.

He added that the goal is to make Maharashtra the fastest state in the country for setting up new industrial units.

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