Rs. 12.1 Trillion MOU Signed In 3 Day Meet In Maharashtra

Rs. 12.1 Trillion MOU Signed In 3 Day Meet In Maharashtra

A global investor summit was organized for 3 days in which Maharashtra has made an agreement for almost 4,106 investment deals amounting to INR 12.10 trillion. Devendra Fadnavis said that the state has made agreements with the center on around 104 proposals amounting to 3.90 trillion INR in projects related to infrastructure development. The giant companies like Reliance Industries, JSW Electrical Vehicles and Virgin Group were among the companies that invested in the industry projects which amounted to almost INR 5.48 trillion comprising of 3,516 deals.

The Magnetic Maharashtra summit was inaugurated by PM Modi and concluding the summit, Fadnavis said that the investment will result in the generation of almost 36.77 lakh jobs in the state. Most of this investment will go in the backward regions of Vidarbha and Marathwada. To develop the areas digitally, Reliance has agreed upon an investment of INR 60,000 crore and Virgin Hyperloop One is going to invest INR 40,000 crore for the construction of Mumbai-Pune hyperloop.

Apart from this, INR 5,700 crore will be used for information technology development and INR 2,436 crore will be used in higher education. A proposal has been signed with Railway Department for starting a factory for making metro coaches in Latur. The first phase of this will get an investment of INR 600 crore.

Piyush Goyal was also present at the convention and he declared that these coaches will be used worldwide and not only in Maharashtra. This factory will be developed on an 8000-acre establishment to serve the metrocoaches all over the world.

There were several other companies that signed these MoUs, which include Technocraft Industries, Adani Green Energy, Lloyds Metal & Energy, ReNew Power Ventures, Raymond Group, Hyosung, and Tata Power SoftBank Energy.

Maharashtra also received FDI proposals from LG Electronics and Carrier Midea India.