Maharashtra Government signs MoUs with 15 companies worth INR 35000 crore

The government of Maharashtra on Monday announced the signing of MoUs worth INR 35,000 crore with ten Indian and five global companies at the ‘Magnetic Maharashtra 2.0‘ investor meet.

The MoU signed in the presence of Chief Minister Uddhav Thackeray include seven agreements for setting up data centres-five for logistics and one each in the gas & fuel, chemicals, and electronics sectors, paving the way for the state to become a data and logistics hub in western India.

“Faith is of utmost importance… Both the investors and government have trust in each other. We are happy that all procedures have been completed in 60 per cent of the industries in the previous MoUs (June, 2020)

~Uddhav Thackeray,Chief Minister,Maharashtra

Expressing satisfaction at the Industry Ministry’s performance, he said this is just the beginning and “the state is planning to bring in over INR 1 lakh crore investments in the coming few months”.

“Today’s investment proposals worth INR 35,000 crore shall generate over 23,000 jobs in the state. Maharashtra will not just emerge from the coronavirus situation, but will lead the whole country with more vigour,” Thackeray said.

Furthermore, in addition to the 12 companies that signed the deals on June 15, another 15 companies inked the pacts in the presence of Industry Minister Subhash Desai, Minister of State for Industry Aditi Tatkare and other top officials.

The deals include: Data Centres like Netmagic IT Services (INR 10,555 crore), Adani Enterprises Ltd (INR 5,000 crore), Colt (United Kingdom;INR 4,400 crore), Nxtra (INR 2,500 crore), Princeton Digital Group (Singapore, INR 1,500 crore), Mantra Data Centre (Spain, INR 1,125 crore), and STT Global (INR 825 crore).

The investors in the logistics sector include: EMR India (Singapore, INR 4,310 crore), Malpani Warehousing & Industrial Park (INR 950 crore), Ishwar Logistics Park (INR 395 crore), Pareba Logistics Park (INR 381 crore), and Evermint Logistics (INR 350 crore).

Bright Sino Holdings (INR 1,800 crore), Mitsubishi Electronics (Japan, INR 490 crore) and Oriental Aromatics (INR 265 crore) are the other investors who signed the deal, said an official.

In June, the state had signed 12 MoUs worth INR 16,000 crore at the height of the lockdown, encompassing automobiles, food processing, engineering, logistics, IT and chemical sectors with Indian and global companies.

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