Industry News | 18 Dec 2022 | mojo4industry | mojonews
📰 Maharashtra clears Rs 70,000 cr investment projects
Maharashtra Government has approved investments of Rs 70,000 crore, which is expected to create 55,000 jobs.
The major investments include Cosmo Films of Rs 900 crores in Sambhajinagar, LG Electronics India to invest Rs 350 crores in Ranjangaon, Pune, and Lloyd Metals & Energy to invest Rs 5,700 crores in Gadchiroli. There are 13 projects in total, including 35,520 crores in the Naxal-hit Gadchiroli and Chandrapur districts. A total of Rs 10,000 crore is being invested in green projects.
Deputy Chief Minister Devendra Fadnavis informed that these his government announced a range of projects covering every region in Maharashtra, including Marathwada, Vidarbha, North Maharashtra, and Western Maharashtra, with a view to achieving overall development.
📰 Mahindra plans to invest Rs 10,000 cr in Pune’s EV plant
Mahindra & Mahindra announced it would invest Rs 10,000 crore in establishing an electric vehicle manufacturing plant in Pune over the next seven to eight years. The companies plan to launch e-SUVs under the XUV brand with a new electric-only brand called ‘BE’. The company, through its subsidiary, will make investments of approximately Rs 10,000 crore for setting up the manufacturing facility, development, and production of Mahindra’s upcoming born electric vehicles. The new range of electric SUVs will be offered in single-motor and dual-motor configurations.
📰 Vedanta signs MoU with 30 Japanese companies
A Memorandum of Understanding has been signed between Vedanta Group and 30 Japanese companies to develop India’s semiconductor and glass display manufacturing ecosystem. Last week, more than 200 delegates from over 100 global companies attended the Vedanta-Avanstrate Business Partners Summit 2022 in Tokyo, Japan.
