Jayaswal Neco Industries Signs ₹12,262 Crores MOU for Integrated Steel Plant in Maharashtra

1 min read | Published on 27 Jan 2026, 05:29 PM |Updated on 27 Jan 2026, 05:29 PM

Reviewed by

Shriram SScanX News Team

Key Highlights

Jayaswal Neco Industries Limited signed an MOU with the Government of Maharashtra on 22nd January, 2026 for establishing a two million tonnes per annum integrated steel plant at Gadchiroli District. The project involves an investment of ₹12,262 crores and will generate direct employment for 2,600 people. The Maharashtra government will facilitate necessary approvals and clearances for the project implementation.

*this image is generated using AI for illustrative purposes only.

Jayaswal neco industries Limited has signed a significant Memorandum of Understanding with the Government of Maharashtra for establishing a world-class integrated steel plant, marking a major expansion in the company's manufacturing capabilities. The agreement was executed on 22nd January, 2026 at Davos, Switzerland, demonstrating the company's commitment to enhancing India's steel production capacity.

Project Overview and Investment Details

The proposed integrated steel plant will be established at Gadchiroli District, Maharashtra, with a production capacity of two million tonnes per annum. The project represents a substantial investment commitment and employment generation opportunity for the region.

Parameter:	Details
Project Investment:	₹12,262 Crores
Production Capacity:	2 Million Tonnes Per Annum
Location:	Gadchiroli District, Maharashtra
Direct Employment:	2,600 staff/workers
Agreement Date:	22nd January, 2026
Signing Location:	Davos, Switzerland

Government Support and Facilitation

The Government of Maharashtra has committed to providing comprehensive support for the project implementation. The state government will facilitate the company in obtaining necessary permissions, registrations, approvals, clearances, and fiscal incentives from concerned departments as per applicable policies, rules, and regulations.

This collaboration reflects the company's strategic approach to contributing towards industrialization in Maharashtra while strengthening India's overall steel production infrastructure.

Regulatory Compliance and Disclosure

The company disclosed this material development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024.

Agreement Details:	Information
Parties:	Jayaswal Neco Industries Limited and Government of Maharashtra
Purpose:	Two Million Tonnes Per Annum Integrated Steel Plant
Related Party Transaction:	No
Promoter Group Relationship:	Not related

Delayed Submission Explanation

The company acknowledged a delay in the original disclosure submission, which was attributed to the time required for collating complete information regarding the MOU terms signed at Davos, Switzerland. The process was further delayed due to time zone differences between India and Switzerland. The company has expressed regret for the unintentional delay and reaffirmed its commitment to timely compliance with all applicable regulations.

This strategic initiative positions Jayaswal Neco Industries Limited to significantly expand its presence in the Indian steel sector while contributing to regional industrial development and employment generation in Maharashtra.

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