GE to invest Rs 1020 crore in rural Maharashtra

In its bid to project Maharashtra as a leading industrial destination, the state government is banking on the latest “mega” investment made by the US giant General Electric into Rs 1,020-crore manufacturing facility at Chakan.

The industrial ‘mega project policy’ of the state government framed to attract more investment and generate employment opportunities has been receiving a “tremendous response” channelising both domestic as well as foreign investment on a large scale, according to statistics.

[caption id=“attachment_346134” align=“alignleft” width=“380” caption=“Under the mega project policy, the Maharashtra government has so far approved 335 mega projects. Reuters”]  [/caption]

The industry secretary signed the MoU between Maharashtra government and GE India Ltd, paving the way for the first phase of its Chakan plant to become operational in 2013 with a thrust on energy and transportation sector oriented products and solutions.

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Under the mega project policy, the Maharashtra government has so far approved 335 mega projects with an approximate investment of Rs 2,76,832 crore, creating employment opportunities for about 3.17 lakh people, the industry department noted.

“Out of these 335 projects, 95 projects have gone into production and 253 projects with an approximate investment of Rs 1.75 lakh crore will be set up in backward areas of the state,” it added. The facts and figures released by the state industry department assume an added significance at a time when the issue of Maharashtra’s traditional status as a major industrial state has become a topic of discussion following the statement of NCP President Sharad Pawar that the state has been losing on the industrial front in the past few years.

PTI