Maharashtra Government to Sign $2 Billion Bio-Methanol Plant Deal with US Company
The Maharashtra government is poised to sign a nearly $2 billion deal with a US company for one of the world's largest bio-methanol plants in Chandrapur-Gadchiroli. This facility is expected to be among only two of its kind in India, alongside a fiber production unit from banana stems in Bhusawal.
The government aims to attract a total of $850 billion in investments, with $500 billion allocated for manufacturing. Recent investments of $250 billion have been secured, with land allotment completed in 60% of cases.
The new industrial policy offers significant incentives in 27 emerging districts, projecting a cumulative investment of over Rs3 lakh crore and creating 500 jobs per district. Additionally, Godrej Agrovet is collaborating with the Maharashtra government to enhance cotton cultivation, aiming to make Indian-grown cotton competitive with imports while addressing concerns over illegal genetically modified seed penetration in the market.
