Chief Minister Eknath Shinde on Friday approved two mega projects worth Rs. 29,550 crore in Watad and Jhargaon Maharashtra Industrial Development Corporation (MIDC) area in Ratnagiri district of the state.
The two projects are expected to generate employment for 38,120 people in the district.
A meeting of the Cabinet Sub-Committee of the Industries Department was held on Friday under the chairmanship of Chief Minister Shinde during which the projects were approved.
This isVellore Information Technology Park’s third project in the state to manufacture high-tech silicon wafers, fabs, etc. This project will be set up in Watad and Zadgaon MIDC areas with an investment of Rs 19,550 crores and is set to generate 33,000 direct and indirect employment.
The second project belonging to Reliance Infrastructure, for manufacturing materials in the aerospace and defence sector, will have Rs 10,000 crore invested under this project, creating jobs for 4500. This is the first mega project in the state in the field of aerospace and defence.
“Both these projects will significantly boost the local economy by creating increased employment and commercial activities in the area. The project will promote technological innovation research and development, develop a strong local supply chain, and help the micro, small and medium enterprise sector benefit greatly. These projects will provide training and skill development opportunities for local workers, helping to increase their employability and skills in emerging technologies,” an official said.
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