Vidarbha’s industrial growth gains momentum

 

 

 

 

The industrial landscape of Vidarbha showed positive signs of development in 2023 due to infrastructure upgrades, skilled manpower availability, its strategic location, efforts by trade and industry bodies, and support from regional political leaders. Significant progress was made in infrastructure development, with projects like the Samruddhi Mahamarg boosting connectivity and investor confidence. The upcoming gas pipeline and arrival of multinational players in MIHAN further enhanced investor sentiment. This excitement among the investors is reflected in the signing of memorandums of understanding (MoUs) for investments exceeding Rs 1 lakh crore in the region. Although these proposals are still in the planning stages, their timely execution has the potential to transform Vidarbha into a dynamic industrial hub, not only in Maharashtra but also across India. New Era Cleantech has embarked on a project to establish India’s first private-sector coal gasification plant. With an investment of approximately Rs 20,000 crore, the project promises to transform the industrially backward Chandrapur district in Maharashtra. 2023 also saw RE Power signing an MoU for Rs 18,000 crore to set up a polysilicon and ingot wafer plant. Lloyds Metals and Energy Ltd signed an MoU for a steel plant at Gadchiroli with an investment of Rs 28,000 crore.

 

Varad Ferro Alloys Ltd. also signed an MoU with the Maharashtra Government for a large steel plant near Gadchiroli, with an investment of Rs 5,500 crore. Rajouri Steel Pvt Ltd. signed an MoU for a steel plant at Mul near Chandrapur, and six new iron ore mining licenses were granted in Gadchiroli. JSW announced Rs 10,000 crore investments. Additionally, a few coal mines were allocated to different players for commercial coal mining in Gondkhairi. The State Government appointed MIDC as the nodal agency to conduct a feasibility study for a Petrochemical Complex in the region, which is expected to attract investments between Rs 35,000 crore and Rs 50,000 crore. Pernod Ricard, one of the fastest-growing multinational alcohol beverage companies, may soon announce its ambitious plan to set up a wine maturation plant and distillery in the region to produce single malt whisky. The company, which has been exploring investment opportunities in the region for several months, is likely to make the final announcement soon. A team of senior officials from the company recently visited the city.

 

Strategically located Nagpur is at the top of the company's list for the investment, estimated at over Rs 2,500 crore. The French manufacturer of renowned brands like Chivas, Ballantine’s, Blenders Pride, and Royal Stag, among others, has a significant presence in India, with two distilleries and 29 bottling plants. However, the proposed plant will be the company’s largest and most state-of-the-art facility in this part of the world, with the capacity to create more than 1,000 jobs. 2023 also saw development in MIHAN with the launch of some new projects. Infosys, a global leader in next-generation digital services and consulting, opened its new state-of-the-art development center (DC) at MIHAN-SEZ. Spread across 265,000 sq.ft., Infosys has invested over Rs 230 crore in the facility, which will provide greater flexibility for employees to work in a hybrid mode and enable reskilling and upskilling of local talent.

 

Airbus Helicopters and Indamer have joined hands to provide cutting-edge after market services for helicopters in India, significantly boosting the development of the rotary-wing Maintenance, Repair, and Overhaul (MRO) ecosystem in the country. Under authorization from Airbus Helicopters, Indamer will provide MRO services for Airbus helicopters at its facilities in Mumbai, New Delhi, and Nagpur. The MIHAN facility was inaugurated by Maharashtra Deputy Chief Minister Devendra Fadnavis. While the journey towards the region's industrial prosperity is long, the green shoots of growth witnessed in 2023 are a welcome sign. With continued focus on infrastructure, and policy support, the region is on the cusp of an industrial transformation, promising a brighter future for its people and businesses.