Maharashtra Chief Minister Fadnavis signs preliminary agreements for a potential Rs. 80,962 crore investment from nine businesses, promising the creation of approximately 90,300 jobs.
Mumbai played host to the 37th international conference AIIFA Steelex 2025, where significant strides were made in the pursuit of sustainable and green steel production. The conference, themed "Profitable Sustainability - Green Steel: A Future Ecosystem", saw the signing of numerous MoUs and investment pacts worth over Rs 80,962 crore.
Union Minister Pralhad Joshi, present at the event, outlined the Government of India's Green Steel Mission, for which an investment of Rs 5,000 crore has been allocated. This mission aims to drive the transition to green steel, a shift that Pralhad Joshi emphasised is not just an economic necessity but a national priority.
The Maharashtra government has been at the forefront of these initiatives. Already, investments worth Rs 80,000 crore have been made in the state's steel sector, according to Chief Minister Devendra Fadnavis. These investments are expected to generate over 90,300 jobs across the state.
The state government has also signed agreements for investments in the steel sector, amounting to Rs 80,962 crore. This investment is not limited to the traditional steel sector but also includes the green steel sector, a sector that is set to play a significant role in Maharashtra's future.
Fadnavis added that Maharashtra aims to become the leader in the green steel sector. In fact, the state has already initiated five pilot projects for green hydrogen hubs at Kandla, Paradip, and Pipavav ports, a testament to its commitment to sustainable steel production.
India has set an ambitious target of producing 300 million tonnes of zero-carbon steel. At least 50 million tonnes of this zero-carbon steel must be exported, according to Pralhad Joshi. With Maharashtra's strategic location and its growing investments in the steel sector, the state is well-positioned to play a big role in the export of green steel.
Fadnavis further stated that Maharashtra aims to become No. 1 in steel production in India within the next eight years. With the total investment in the steel sector of Maharashtra, both traditional and green, now worth over Rs 85,362 crore, this goal seems within reach.
Several companies, including Reliance Industries, Tata Group, and Adani Group, have signed MoUs for investments in Maharashtra, with announced investments of over 80,000 crore rupees planned to be realised over the next 5 to 7 years. These investments and jobs generated are set to transform the steel sector in Maharashtra and contribute significantly to the state's economy.
With these initiatives, large-scale green steel production is now possible, marking a significant step towards India's goal of sustainable and carbon-neutral steel production. Maharashtra, under the leadership of Fadnavis, is poised to lead this green steel revolution.
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