State signs Mous of ₹30,000 cr at the World Economic Forum
Investment will create 66,000 jobs in the state, industries minister Subhash Desai said on Tuesday
MUMBAI: The Maharashtra government signed memorandum of understanding (MOU) worth over ₹30,000 crore during the ongoing annual meeting of the World Economic Forum (WEF) at Davos, Switzerland.
As many as 23 Mous were signed for investment in sectors, including pharmaceuticals, medical devices, information technology, data centres, textiles, food processing, packaging, paper and pulp, and steel. The investment will create 66,000 jobs in the state, industries minister Subhash Desai said on Tuesday.
A delegation, including state industries minister Desai, energy minister Nitin Raut and environment minister Aaditya Thackeray, is presently in Davos.
“Today, the state government signed 23 Mous with various companies with investments worth ₹30,379 crore. These investments will potentially generate more than 66,000 jobs,” Desai posted on his Twitter.
The state has signed Mous with Microsoft Corporation (₹3,200 crore), Asia Pulp & Paper (₹10,500 crore), Tata
Realty (₹5,000 crore), Gramsci Business Hubs (₹5,000 crore), Vishvaraj Environment Private Limited (₹1,000 crore), GR Group (₹740 crore), Scalar Spaces (₹650 crore), Indorama Corporation (₹600 crore), Indo Count Industries Limited (₹510 crore), Colorshine Coated Private Limited (₹510 crore), Goyal Proteins (₹380 crore), PG Electroplast Limited (₹315 crore), Havmor Ice Cream Private Limited (₹263 crore), Carnival Industries (₹207 crore), Sonai Dairy (₹200 crore), Valiant Group (₹150 crore) and Alprose Industries (₹150 crore), among others.
“Of the total investment, over 55% is part of foreign direct investments (FDI) from countries such as Singapore, Indonesia, US and Japan,” said an official from the industries department.
Under the Magnetic Maharashtra initiative, the state has signed a total of 121 Mous aiming to bring a total investment of ₹2.2 lakh crore with a potential to generate almost 4,00,000 jobs.
In the last two years between October 2019 to December 2021, the state has received 26% of total FDI, which was the highest in the country, the official added.
Voyager Space Holding, a Us-based commercial space company, is also interested in investing in Maharashtra, informed the industries minister. “Met Mathew Kuta COO & founder of Voyager Space Holding Pvt. Ltd. @WEF @Davos. Voyager is a global leader in space exploration and they want to include “space” in the college syllabus. For that, they are keen to invest in Maharashtra. We are looking forward to working together,” he tweeted.
Maharashtra also became the first sub-national government member of the Global Plastic
Action Partnership (GPAP), a multi-stakeholder platform dedicated to translating commitments to reduce plastic pollution and waste into concrete action, by signing an MOU, which will serve as a roadmap for sustainable development in the state.
In a related development, the state inked a MOU worth ₹50,000 crore with M/s. Renew Power Private Limited for the development of renewable energy projects (solar/ wind / hybrid), battery storage, green hydrogen plant. The projects will come up between 2022-28 and employ 30,000 people.