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The Maharashtra government signed a Memorandum of Understanding (MoUs) with 32 companies in February 2014 for setting up manufacturing projects in the state. The MoUs, collectively worth Rs 23,842 crore of projex, were signed by Maharashtra Industrial Development Corporation (MIDC), in sectors like steel, food, automobiles and textiles.
MIDC signed MoUs with companies like Shree Uttam Steel and Power, Mercedes-Benz India, Bosch, Tata Autocomp Systems, and New Holland Fiat India for their greenfield and brownfield investment plans.
Shree Uttam Steel was the largest investor amongst the companies which inked the MoUs. The company proposes to invest Rs 11,156 crore for setting up a 1.5 million tonne per annum hot rolled coil facility, along with a 40 MW captive power plant at Sawantwadi in Sindhudurg district. Namco Industries has committed to invest Rs 857.5 crore for setting up a wide plates and strips project in Raigad district.
Mercedes-Benz India, a wholly owned subsidiary of Mercedes Benz, has firmed up plans to invest Rs 1,500 crore on capacity expansion at its Chakan unit near Pune. The unit currently manufactures passenger cars, buses and truck chassis, and auto ancillaries.
In the auto ancillary sector, Bosch has proposed to invest Rs 753 crore for the capacity expansion of its Common Rail Injector facility at Nashik. Perkins India, a group company of Caterpillar, will invest Rs 752 crore for setting up a gas and diesel engines unit, which will be primarily used for power generation at Shendra in Aurangabad District. Tata Autocomp Systems has proposed to invest Rs 702 crore for setting up a manufacturing unit for engine hood, bumpers, front panel and other auto ancillaries at Chakan MIDC in Pune district. Fenace Auto will invest Rs 550 crore for ferrous casting and other auto parts.
In the food sector, Chintamani Agrotech will invest Rs 673.92 crore for setting up a sugar and ethanol manufacturing plant, supported by a 30 MW captive power plant at Yavatmal district. ABInBev India has proposed to invest Rs 462.12 crore on its new brewery unit. Sunfresh Agro Industries will invest Rs 391 crore for setting up a milk processing unit along with a 10 MW captive power plant.
SCA Hygiene Products is investing Rs 650 crore over the next five years to set up a facility to manufacture tissues, baby care and other hygiene products at Ranjangaon near Pune.
Farm equipment manufacturer, New Holland, will be setting up a Rs 550 crore unit at Chakan for making harvesters and combine harvesters.
The 32 projects have been granted Mega Project status and will enjoy the benefits and incentives extended under the state government's Mega Project Policy. The Policy was announced by the Maharashtra government in June 2005 with a goal of attracting more investment and generation of more employment opportunities in the state. Under this policy, the state government has so far approved 403 mega projects entailing an investment of Rs 3,21,099 crore. Out of the 403 mega projects, 114 projects have already gone into production.
Along with signing the MoUs, Maharashtra also launched an investor facilitation centre ‘MAITRI - Maharashtra Industry, Trade and Investment Facilitation Cell’. The objective of the cell is to cater to the investors’ needs and promote projects investment in Maharashtra.
According to the latest Projects Investment Survey conducted by ProjectsToday, as of 28 Feb 2014, there were 8,248 projects in Maharashtra entailing a total investment of Rs 858,826 crore. Of this, 1062 projects were new projects announced in the current fiscal 2013-14.
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