Chhatrapati Sambhajinagar to host Toyota's ₹25,000 crore project MoU to be signed in Mumbai today: Major good news for Marathwada

Yadu Joshi

Mumbai: An MoU will be signed in Mumbai on Wednesday for the establishment of a project capable of transforming the economy of Marathwada. This agreement is for the ambitious Toyota Kirloskar Motors project involving an investment of ₹25,000 crore in Auric City, Chhatrapati Sambhajinagar. Deputy Chief Minister Devendra Fadnavis initiated preliminary discussions with the company officials to bring this project to Maharashtra during his visit to Japan in August 2023. The project faced competition from Gujarat, Tamil Nadu, and Maharashtra as potential investment destinations. Ultimately, the company chose Maharashtra. The Chhatrapati Sambhajinagar project will manufacture vehicles running on petrol, diesel, and green energy. This project gained momentum over the past six months with multiple meetings between the Maharashtra government and the company. Senior company officials visited Mumbai and Chhatrapati Sambhajinagar at least 20 times. The entire process was kept confidential. The MoU will finally be signed at Sahyadri Guest House on Wednesday in the presence of Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, Toyota Kirloskar Motors Managing Director and CEO Masakazu Yoshimura, and Vice President Manasi Tata.

24,000 jobs to be created

The project will be set up on 1,000 hectares of land in the Auric City industrial area of Chhatrapati Sambhajinagar. The government claims that 8,000 direct and 16,000 indirect jobs will be created by this project. Additionally, important ancillary companies will be established. The first car from this project is expected to be ready by early 2027. This will be the largest investment in Maharashtra in recent times.

Marathwada's Economy Will Transform

Our government has taken the initiative for the rapid development of Vidarbha and Marathwada. Financial institutions and renowned companies in Japan have always shown a cooperative attitude towards Maharashtra. As a result, Toyota's major investment is now set to happen in Chhatrapati Sambhajinagar. This project will transform the economy of Marathwada.

-Devendra Fadnavis, Deputy Chief Minister