Maharashtra Government Secures 54 MoUs at WEF Davos, Projecting Rs 15.7 Lakh Crore in Investments

Mumbai, Jan 22 (NationPress) The Maharashtra government has formalized 54 MoUs for investment proposals totaling an unprecedented Rs 15.7 lakh crore, anticipated to generate 15.95 lakh jobs within the state.

These agreements were signed in the presence of Chief Minister Devendra Fadnavis and senior officials during the World Economic Forum gathering in Davos on Tuesday and Wednesday.

According to the Chief Minister’s office, of the total Rs 15.7 lakh crore in MoUs, the Department of Industries accounted for Rs 11.71 lakh crore, the Mumbai Metropolitan Region Development Authority (MMRDA) contributed Rs 3.44 lakh crore, and the City and Industrial Development Corporation (CIDCO) accounted for Rs 55,200 crore.

“In the past two days, agreements were established across all state regions, promoting balanced development,” stated the Chief Minister.

The largest investment among the MoUs signed on Wednesday came from the Reliance Group, which plans to invest Rs 3.05 lakh crore in various sectors, including petrochemicals, polyester, renewable energy, green hydrogen, and real estate. This single commitment is projected to create three lakh jobs.

Chief Minister Devendra Fadnavis emphasized that the Reliance agreement, which involves substantial investment in the service sector, will significantly enhance job creation. Anant Ambani from the Reliance Group remarked that this investment aligns with their vision of establishing Maharashtra as the first state with a $1 trillion economy, a target the government is devoted to achieving under Prime Minister Narendra Modi.

Another substantial commitment is from Amazon, which is set to invest Rs 71,795 crore in data centers located in the Mumbai Metropolitan Region (MMR), creating 83,100 jobs.

The government has also signed an MoU with Gritta Energy for Rs 10,319 crore in the steel and metals sector, expected to generate 3,200 jobs in Chandrapur; Vardhan Lithium for Rs 42,535 crore in electronics (Lithium Refinery and Lithium Battery) to create 5,000 jobs in Nagpur; Indorama for Rs 21,000 crore in textiles to produce 1,000 jobs in Raigad; and several other notable agreements.

Additionally, Larsen and Toubro Ltd will invest Rs 10,000 crore in defense production, expected to create 2,500 jobs in Talegaon, while Nelson Media Pvt. Ltd plans to invest Rs 1,100 crore in information technology, generating 1,100 jobs in MMR.

In total, various companies are set to invest in diverse sectors, contributing to local economies and job creation across multiple regions.