JSW Group to invest $35 bln in India's Maharashtra state

JSW Infrastructure

21/01/2025 15:13

Jan 21 (Reuters) - Billionaire Sajjan Jindal-led JSW
Group said on Tuesday that it will invest 3 trillion rupees
($34.67 billion) in the Indian state of Maharashtra to expand
the conglomerate's presence in electric vehicles, batteries,
steel, and green energy sectors.
    The ports-to-cement JSW conglomerate and the government of
the western Indian state of Maharashtra - home to the country's
financial hub of Mumbai - signed an agreement on the sidelines
of the World Economic Forum, in Davos, Switzerland. 
    The investment will fund facilities for electric vehicle and
lithium-ion battery production, steel manufacturing expansion,
and renewable energy projects, including solar modules.
    State chief minister Devendra Fadnavis, in a post on social
media platform X, said that the investment would create 10,000
jobs and provide a "huge boost to Maharashtra's industrial
environment."
    The Maharashtra government will offer fiscal incentives and
expedite clearances for the group's projects as part of the
agreement, JSW said.

($1 = 86.5400 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru; Editing by Tasim
Zahid)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))