Mumbai | Maharashtra is witnessing a new phase of industrial growth driven by investor-friendly policies and proactive government support, Chief Minister Devendra Fadnavis said on Thursday.

Speaking at a meeting held at his official residence 'Varsha', the CM said his government has undertaken several policy reforms to ensure investment proposals are smoothly converted into operational industries.

Memorandums of Understanding (MoUs) were signed by major companies, including Shyam Steel and JW Global Group, during the meeting.

"The government is extending full cooperation to investors setting up industries in Maharashtra. The investments by Shyam Steel and JW Global are a testament to the conducive industrial environment in the state. Simplified procedures have been introduced to facilitate faster project execution," Fadnavis said while inviting more companies to invest.

The CM said Maharashtra is taking the lead in attracting investments in sustainable energy, including through initiatives in small modular nuclear reactors following the Centre's policy push to allow investments in civil nuclear energy.

According to an official release, West Bangal-based Shyam Steel will invest Rs 10,000 crore to set up a steel plant in Godpimpri taluka of Chandrapur district, generating over 8,000 jobs.

"JW Global India Pvt Ltd has proposed investments worth around Rs 1.65 lakh crore in the state. This includes Rs 14,976 crore floating solar power and energy storage project at Ujani dam in Solapur district, expected to create about 500 permanent jobs," the release added.

The group also plans to invest in sustainable artificial intelligence campuses and data centres, green hydrogen projects, and small modular nuclear reactors, with overall employment generation estimated at around 3,000 jobs, the statement said.