Maharashtra Government Signs MoUs for Rs 50,750 Crore Investment at Davos
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Synopsis
The Maharashtra government has signed four significant MoUs at the WEF summit in Davos, aiming for a total investment of Rs 50,750 crore across various sectors, including defence and EVs. This initiative is poised to create numerous job opportunities and foster economic growth in the region.
Key Takeaways
- Four MoUs signed for an investment of Rs 50,750 crore.
- Investment sectors include defence, steel, metals, and EVs.
- Job creation estimated at 12,000+ positions.
- Meetings with PepsiCo and Mastercard focused on collaboration.
- Focus on cybersecurity and agricultural innovation.
Mumbai, Jan 21 (NationPress) The Maharashtra government formalized four MoUs for investment proposals totaling Rs 50,750 crore in sectors including defence, steel, metals, and electric vehicles (EVs) with Chief Minister Devendra Fadnavis present during the World Economic Forum (WEF) summit at Davos.
The state and Balasore Alloys Ltd entered into a MoU to invest Rs 17,000 crore in steel and metals, which is expected to create 3,200 jobs. Satish Kaushik represented the company during the signing.
Additionally, the state collaborated with Reliance Infrastructure Ltd for a MoU worth Rs 16,500 crore in the defence sector, anticipated to generate 2,450 jobs. Sateesh Seth was the company representative.
Viraj Profiles Pvt Ltd and the state finalized a MoU for Rs 12,000 crore in steel and metals projects, set to create 3,500 jobs. Neeraj Raja Kochhar, Chairman and MD of the company, attended the signing.
The Kalyani Group committed to invest Rs 5,250 crore across defence, steel, and EVs, aiming to produce 4,000 jobs. The signing took place with Fadnavis and Amit Kalyani, Vice-Chairman and Joint MD of Bharat Forge Limited, present.
Earlier, Fadnavis shared on X about a productive meeting with Michael Gelchie, CEO of the Louis Dreyfus Company, discussing their plans for a dedicated business unit for pulses and collaboration with farmers to enhance agricultural practices in Maharashtra, a state rich in food processing. Discussions also included potential partnerships backed by the World Bank for improved farm practices.
Additionally, Fadnavis met with Mr. Eugene Willemsen, CEO (AMSEA and International Beverages) and Mr. Stephen Kehoe from PepsiCo at WEF, where they discussed the company's plans to develop value chains in Nashik and expand throughout Maharashtra, emphasizing the state’s strengths in food science and innovation. Topics also included AI in food, drone technology, and crop cycle management to assist farmers, with PepsiCo expressing interest in collaborating with agricultural institutions.
Furthermore, Fadnavis met Ling Hai, President of APAC at Mastercard, and was pleased to learn about the reopening of their tech centre in Pune. They discussed essential matters concerning cybersecurity, financial inclusion, and data protection, especially following Mastercard's acquisition of Recorded Future, aimed at enhancing cyber threat prevention. Maharashtra has established a strong foundation for cybersecurity, and they are keen on partnering with Mastercard through the MahaCyber initiative to tackle these issues, marking the start of a significant collaboration to position Maharashtra as a leader in digital innovation, cybersecurity, and economic growth.
