The Project not only promises Industrial Growth but also functions the economic development of the local community through jobs creation and an infrastructure development. It create 7,000 to 8,000 direct and indirect jobs, with 80%-90% of employment opportunities for local residents in Gadchiroli-Maharashtra.
The total investment of this project is estimated to be 10,000 crores reflecting the significance scale and scope of the industrial complexes.

Maharashtra Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar laid the foundation stone for the Surjagad Ispat Pvt Ltd steel project in Gadchiroli. The ambitious project is expected to generate employment for over 7,000 individuals, both directly and indirectly. The first phase of the project is slated to commence in 2026, with the entire project expected to be completed by 2030.

The company earlier this year had signed a memorandum of understanding (MoU) with the government of Maharashtra tos tart construction of the integrated steel plant at about 340 acres of land in Wadlapeth village in Aheri tehsil.

Surjagad Ispat is a special purpose vehicle (SPV) designed to channel foreign direct investment (FDI) and promoters’ equity. FDI will cover 15 percent of the total project cost, while another 15 percent will come from promoters’ equity. The remaining 70 percent will be financed through bank loans. The company is currently negotiating with nationalized banks for this debt arrangement.