Steel Mahakumbh: ₹81K Cr Boost for Maharashtra

On September 19, 2025, the Maharashtra government signed nine Memorandums of Understanding (MoUs) with leading industrial players at the Steel Mahakumbh event held in Goregaon, Mumbai. The agreements, collectively valued at ₹80,962 crore, are expected to generate over 40,300 employment opportunities across multiple districts.

The MoUs were signed in the presence of Chief Minister Devendra Fadnavis, Union Minister Pralhad Joshi, and Industries Minister Uday Samant, marking a major step forward in boosting industrial growth and employment in the state.

Key Investments:

Rashmi Metallurgical Industries: ₹25,000 crore investment in an integrated steel plant in Wardha, expected to generate 12,000 jobs.

Jindal Stainless: ₹41,580 crore for a stainless steel unit in Raigad, creating 15,500 jobs.

NPSPL Advanced Material (Atha Group): ₹5,440 crore for a lithium battery material and carbon complex in Chhatrapati Sambhajinagar, with 5,000 jobs.

Additional Projects:

Gadchiroli: Joint ventures by Sumedh Tools and Hariom Pipe Industries, with a combined investment of ₹5,135 crore, expected to create 5,500 employment opportunities.

Other companies such as Icon Steel, Filtrum Autocomp, G R Krishna Ferro Alloys, and Jaydeep Steelwork India will also set up manufacturing units across districts like Chandrapur, Nagpur, and Satara.

These strategic investments will not only bolster Maharashtra’s position as a key hub for the steel and allied industries but also play a significant role in regional development, particularly in economically underdeveloped areas.

News by Rahul Yelligetti.