Nashik's ₹5,561 Crore Investment Fuels Industrial Growth

Nashik district has secured two major industrial investments totaling ₹5,561 crore, expected to generate approximately 1,666 direct and indirect employment opportunities. The Maharashtra government has signed Memorandums of Understanding (MoUs) with Graphite India and Virtuoso Optoelectronics Ltd. (VOPL) to establish manufacturing facilities in the region.

Graphite India will invest ₹4,761 crore to set up a facility at Gonde, about 25 km from Nashik city, for the production of synthetic graphite anode material (SGAM)—a key component in lithium-ion batteries. The project is expected to create around 1,166 job opportunities and significantly boost India’s battery manufacturing ecosystem. The company confirmed the MoU signing on August 29, pending final corporate and regulatory approvals.

Virtuoso Optoelectronics (VOPL) will invest ₹800 crore to establish a new manufacturing plant in Dindori focused on electronic products and compressor motors, generating an estimated 500 employment opportunities.

In addition to these projects, the state government also signed separate MoUs with General Polyfilms for a ₹1,000 crore BOPET film manufacturing unit in Nandurbar, and with Next Generation Manufacturers for a ₹1,000 crore electronics manufacturing facility in Ahilyanagar.

These investments underline Maharashtra’s growing appeal as an industrial hub and are expected to contribute meaningfully to regional economic development and job creation.

News by Rahul Yelligetti.