The JSW Group has signed an agreement with the Government of Maharashtra at the World Economic Forum in Davos to invest Rs 3 lakh crore in the state across multiple sectors. 

The investment will target key areas such as steel, renewable energy, electric vehicles, lithium-ion batteries, solar wafer and cell modules, and infrastructure, according to a company release.

Under the preliminary agreement, JSW will expand and enhance steel manufacturing capacities, establish green energy projects, set up advanced manufacturing units for electric vehicles, develop facilities for high-performance EV batteries, and contribute to Maharashtra’s infrastructural transformation. 

The initiative is expected to create thousands of jobs, boost industrial capabilities, and drive sustainable economic growth.

The Government of Maharashtra will facilitate the investment by expediting clearances, providing fiscal incentives, and ensuring the availability of essential resources such as land, water, and power in line with State policies.

Devendra Fadnavis, Maharashtra Chief Minister, emphasized the significance of the partnership, stating, “Signing of an MoU with JSW Steel, a company with diverse investments across key sectors such as steel, solar, auto, and cement in Maharashtra, is a significant step in fulfilling our vision to develop Gadchiroli as the ‘steel city’ of India.”