State signs MoUs to attract over ₹42K crore investment

The state government signed MoUs with 10 companies in a bid to attract investment worth ₹42,892 crore focusing on solar and green energy, data centres, and other sectors. The state government may collaborate with these companies to facilitate the upcoming projects but the terms and conditions of the agreements are yet to be revealed

Mumbai: The state government signed MoUs with 10 companies in a bid to attract investment worth ₹42,892 crore focusing on solar and green energy, data centres, and other sectors. The memorandums of understanding (MoUs) were signed on Tuesday in the presence of chief minister Devendra Fadnavis. The state government may collaborate with these companies to facilitate the upcoming projects but the terms and conditions of the agreements are yet to be revealed.

State signs MoUs to attract over ₹42K crore investment

Among the companies was the Prestige Group which has announced plans to invest ₹12,500 crore towards developing a data centre, a global competency centre (GCC), and a logistics centre in areas around Navi Mumbai. The plan includes building residential and commercial facilities around the projects which will offer direct employment to 8,700 people.

Prestige is one of India’s leading real estate and infrastructure developers with a diversified portfolio spanning residential, commercial, retail, and hospitality infrastructure, along with logistics and data centres. “The firm has planned a data center campus at Taloja by investing ₹5,000 crore, a competency center (GCC) at Navi Mumbai on a 100 acre plot and a logistics center on a 250 acres plot in Khalapur,” said CM Fadnavis in a post on X.

Another company, Jupiter International Limited plans to invest ₹10,500 crore towards building a solar wafer manufacturing unit, a solar cell production unit, and a solar module manufacturing unit at Butibori in Nagpur. The project is expected to generate 8,300 direct jobs.

Webmint Digital Private Limited too has signed an MoU with the state and has promised to invest ₹4,846 crore to develop a state-of-the-art hyperscale data centre at the Taloja industrial area in Navi Mumbai, which will create 2,050 jobs.

LNK Green Energy, a successful company in the fields of solar energy, bio-fuels, and waste-to-energy projects, plans to establish a 6 GW (gigawatt) solar power manufacturing unit and module manufacturing facility, at Aurangabad Industrial City (AURIC) in Chhatrapati Sambhaji Nagar. The unit, involving a ₹4,700 crore investment, is expected to be the largest yet in the country, and will create direct employment for 2,500 people.

Vow Iron and Steel Private Limited, a newly incorporated entity under the Pagariya Group, declared it would set up an integrated steel plant at Gondpipari, Chandrapur. It has agreed to invest ₹4,300 crore towards a project expected to begin next year which will create 1,500 direct jobs.

A Pune-based IT infrastructure company, Rovision Tech Hub Private Limited focuses on delivering world-class data center services. It aims to empower enterprises with scalable, secure, and sustainable digital infrastructure, backed by a highly skilled workforce and global best practices. The project that has been planned at TTC industrial area in Navi Mumbai, will envisage an investment of ₹2,564 crore.

A Mumbai-based IT services company, Rochak Systems Private Limited is also looking to establish a data centre campus at TTC industrial area in Navi Mumbai. The company will invest ₹2,508 crore and create 1,000 direct jobs. The Atlas Copco Group has also planned to set up a solar panel manufacturing unit at Dapodi, Pune by investing ₹575 crore.

The state government signed two more MoUs with Global India Business Corridor (GIBC) and TuTr Hyperloop Private Limited. “Through the MoU, GIBC will facilitate trade, investment, and economic cooperation, with the flexibility to engage with the companies from the UK and the European Union on a case-by-case basis. Meanwhile TuTr Hyperloop Private Limited will develop a Linear Induction Motor (LIM) based high-speed mobility system at Jawaharlal Nehru Port Trust (JNPT) and Vadhvan Port,” said a senior industries official. “The project is expected to transform the state’s logistics and transportation infrastructure, enhancing efficiency, reducing carbon emissions,” he added.