The MoU was one of 20—and the largest—the state government signed on the sidelines of the annual meeting of the World Economic Forum (WEF) in Davos

Billionaire Sajjan Jindal-led JSW Group said on Tuesday that it will invest 3 trillion rupees ($34.67 billion) in the Indian state of Maharashtra to expand the conglomerate's presence in electric vehicles,

The investment will fund facilities for electric vehicle and lithium-ion battery production, steel manufacturing expansion, and renewable energy projects, including solar modules

JSW Group to invest Rs 3 lakh crore in Maharashtra across steel, renewable energy, electric vehicles, and infrastructure sectors.

The ports-to-cement JSW conglomerate and the government of the western Indian state of Maharashtra - home to the country's financial hub of Mumbai - signed an agreement on the sidelines of the World Economic Forum,

JSW Group is set to invest Rs 3 lakh crore in Maharashtra, enhancing steel manufacturing with green technology, developing green energy projects, and setting up advanced units for electric vehicles and high-performance EV batteries.