Mumbai: The Maharashtra government on Friday signed initial pacts for investment proposals worth over Rs 80,962 crore from nine companies. These investments are expected to generate more than 90,300 jobs across the state.
The agreements were signed at the 37th international conference, AIIFA Steelex 2025, held in Mumbai on Friday, according to an official release. The event, conducted under the theme “Profitable Sustainability – Green Steel: A Future Ecosystem,” brought together policymakers, industry leaders, global delegates, and innovators to shape the future of India’s steel industry.
“AIIFA Steelex 2025, which was inaugurated here, signed MoUs with the Government of Maharashtra, pledging a record Rs 80,962 crore of investment and the creation of over 90,300 jobs across the state,” the release stated.
Highlighting the significance of the event, Union Minister for New and Renewable Energy Pralhad Joshi said, “The transition to green steel is not just an economic necessity but a national priority.” He was present at the inauguration alongside Maharashtra Chief Minister Devendra Fadnavis and other dignitaries.
India has set an ambitious target to produce 300 million tonnes of zero-carbon steel, of which at least 50 million tonnes are to be exported, Joshi added. He further shared that five pilot projects are already underway at Kandla, Paradip, and Pipavav ports, which are being developed as green hydrogen hubs to enable large-scale green steel production.
“In the coming years, India must ensure the export of at least 50 million tonnes of green steel,” Joshi emphasized.
Chief Minister Devendra Fadnavis commented on Maharashtra’s role in the steel sector, stating, “Union Minister Pralhad Joshi has outlined the Green Steel Mission, for which the Government of India is investing Rs 5,000 crore. This is an opportunity we must seize and turn into a growth engine.”
Maharashtra currently ranks fourth in steel production in India, but the state aims to become number one within the next eight years. “Already, investments worth Rs 80,000 crore have been made in Maharashtra’s steel sector, and agreements worth Rs 5 lakh crore have been signed,” Fadnavis said.
However, he emphasized that Maharashtra’s ambition is not just to lead in steel production but to become the leader in the green steel sector as well. “Maharashtra will play a big role in the export of green steel,” he added.
*Disclaimer: This story is from a syndicated feed. Nothing has changed except the headline.*
https://www.freepressjournal.in/business/maharashtra-cm-fadnavis-inks-initial-pacts-for-80962-crore-investment-proposals-from-nine-companies-to-generate-90300-jobs
