State signs ₹5,127-crore MoU for development of next-gen industrial and logistics parks

The move is expected to boost the state’s industrial and logistics landscape. It will be one of the largest foreign direct investment (FDI) backed investments in the state’s logistics and industrial sector to date, the industries department officials said

Mumbai: In a major boost to its industrial and logistics infrastructure, the Maharashtra government on Wednesday signed a memorandum of understanding (MoU) with Horizon Industrial Parks and Xsio Logistics Parks for the development of over ten state-of-the-art, sustainability-compliant industrial and logistics parks across the state.

State signs ₹5,127-crore MoU for development of next-gen industrial and logistics parks

The move is expected to boost the state’s industrial and logistics landscape. It will be one of the largest foreign direct investment (FDI) backed investments in the state’s logistics and industrial sector to date, the industries department officials said.

The MoU was signed in presence of chief minister Devendra Fadnavis, deputy CM Eknath Shinde, industries secretary P Anbalagan, Tuhin Parikh, Head of India Real Estate, Blackstone, Alok Jain, Managing Director, Blackstone, RK Narayan, President, Strategy & Business Development, Horizon Industrial Parks, and Ashish Agrawal, Managing Director, Xsio Logistics Parks.

The chief minister termed it as a landmark development. “It will result in setting up more than ten modern industrial and logistics parks that will be developed in locations such as Panvel, Bhiwandi, Chakan (Pune), Nagpur and Sinnar (Nashik). The development will cover 794.2-acre with a construction area of 18.5 million square feet, involving a total Foreign Direct Investment (FDI) of ₹5,127 crore,” Fadnavis said in a post on X.

“It will also create over 27,000 direct and indirect employment in the sector,” he added.