Maharashtra signs MoUs with 25 firms worth Rs 61k cr
24 Dec 2020
2 Min Read
CW Team
The Maharashtra Government recently signed memorandums of understanding (MoUs) with 25 national firms to bring investment worth Rs 61,042 crore in the state, estimated to create about 2.53 lakh job opportunities.
The companies are largely from steel manufacturing, IT parks, logistics, chemicals, renewable energy, and battery manufacturing industries.
The state has managed to attract an investment of Rs 1 lakh crore during this year. It was a target set by the Chief Minister (CM) Uddhav Thackeray.
During November, the state government signed MoUs worth Rs 34, 850 crore with over 15 national and international firms. Earlier this year, MoUs worth Rs 16,300 crore were signed by the state government with 12 major companies while inaugurating Magnetic Maharashtra 2.0, the second phase of a global investors鈥� summit held in February 2018.
The largest investment deal was signed with JSW Steel, which is looking to expand its existing plant at Dolvi, located in Raigad district, and reach a capacity of 14 million tonnes per annum at an investment of Rs 20,000 crore.
Kirtikumar Steel Udyog, another steel manufacturer, has proposed a Rs 7,000 crore plant at Wada, Thane. Additionally, Indian Corporation Logistics intends to invest Rs 11,049 crore in Bhiwandi, Thane. Whereas, Inspira Infra Limited would invest Rs 7,500 crore at a plant-based in Aurangabad.
Exide batteries would invest Rs 500 crore in a plant in Phaltan, Satara.
The Maharashtra Government recently signed memorandums of understanding (MoUs) with 25 national firms to bring investment worth Rs 61,042 crore in the state, estimated to create about 2.53 lakh job opportunities. The companies are largely from steel manufacturing, IT parks, logistics, chemicals, renewable energy, and battery manufacturing industries.
The state has managed to attract an investment of Rs 1 lakh crore during this year. It was a target set by the Chief Minister (CM) Uddhav Thackeray.
During November, the state government signed MoUs worth Rs 34, 850 crore with over 15 national and international firms. Earlier this year, MoUs worth Rs 16,300 crore were signed by the state government with 12 major companies while inaugurating Magnetic Maharashtra 2.0, the second phase of a global investors鈥� summit held in February 2018.
The largest investment deal was signed with JSW Steel, which is looking to expand its existing plant at Dolvi, located in Raigad district, and reach a capacity of 14 million tonnes per annum at an investment of Rs 20,000 crore.
Kirtikumar Steel Udyog, another steel manufacturer, has proposed a Rs 7,000 crore plant at Wada, Thane. Additionally, Indian Corporation Logistics intends to invest Rs 11,049 crore in Bhiwandi, Thane. Whereas, Inspira Infra Limited would invest Rs 7,500 crore at a plant-based in Aurangabad. Exide batteries would invest Rs 500 crore in a plant in Phaltan, Satara.
Next Story
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Next Story
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Next Story
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..
