Maharashtra Inks Rs 30 Lakh Crore MoUs at Davos, Says CM Fadnavis

He said that in addition, the government has held preliminary talks for another investment of Rs 7 to 10 lakh crore for which the government will sign MoUs in the next one or two months.

The Chief Minister, who addressed the virtual press conference, said these investments are from various sectors industry, services, Artificial Intelligence data center, Quantum computing, technology, data centre, semi conductors, GCCs, Health care, food processing, renewable energy, green skill, EV, urban transformation, green steel, ship building, sustainability, fintech, digital infrastructure and textile.

"Of these investments, 83 per cent is foreign direct investment, while 16 per cent of the investment is with foreign entities and for foreign technology. Some of these investments are for import substitution," he said.

The Chief Minister said that these MoUs are from companies from 18 countries, including the US, UK, Switzerland, Sweden, Singapore, Germany, UAE, Norway and Canada, among others."

"Of the Rs 30 lakh crore, 16 per cent investment is proposed in Konkan, 22 per cent in MMR, 13 per cent in Vidarbha and 50 per cent in the rest of Maharashtra," he said.

The Chief Minister said that in North Maharashtra, Nashik, Jalgaon, Ahilyanagar, Nandurbar and Dhule have the investment of Rs 50,000 crore, Rs 2.70 lakh crore in Nagpur and the rest of Vidarbha.

He pointed out that in addition, the investment of Rs 55,000 crore will be made in Chhatrapati Sambhajinagar, which has now emerged as a new industry magnet from Marathwada.

"In the Konkan region, an investment of Rs 3.50 lakh crore has been proposed in Raigad, Sindhu Durg and Ratnagiri. This part, investments are also proposed in Pune and other districts," he said.

The Chief Minister said that the government, during the WEF held last year, had signed MoUs for the investment proposals of Rs 15.75 lakh crore.

To a question on whether these announcements translate into actual projects, the Chief Minister said nearly 75 per cent of these announcements have been fructified.

"These announcements are not on paper. The time period for investments ranges from three years to seven years as they fructify in phases," he claimed.

The Chief Minister also claimed that serious investors take land, approvals and do financial closure to pursue their investments.

He said that those MoUs for investment proposals did not fructify due to geopolitical reasons.

The Chief Minister said that new cities will be developed in the state.

"The innovation city is being developed in the upcoming Mumbai three beyond Navi Mumbai. The state government has roped in a private firm to prepare a roadmap for the development of Eco system for the proposed innovation city," he said.

He added that the private firm has proposed an investment of USD 11 billion for the development data centre in the Innovation City, and it will be developed in Tier 2 and 3 cities to ultimately develop into an innovation culture and hub.

"It will create high-paying jobs," Fadnavis claimed.

He said that the Raigad Pen Growth Centre will also be developed, adding that the project will emerge as a next-generation hub for technology, fintech, and data centres, and will host India's first dedicated Global Capability Centre (GCC) district.

"Global companies have been invited to invest in Raigad Pen Growth Centre, which is emerging as a premier business and investment destination," he said.

The Chief Minister said that the government will develop the circular economy in Mumbai for the treatment of waste and water. "This will help curb the air pollution in the city," he claimed.

He further added that the circular economy initiative will be replicated in other cities.

- IANS