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Magnetic Maharashtra attracts investment of Rs12.10 lakh crore

The government also signed an agreement worth Rs600 crore with the Indian Railways for a coach factory at Latur in Marathwada

mumbai Updated: Feb 20, 2018 23:42 IST
HT Correspondent
HT Correspondent
Hindustan Times
Mumbai,Magnetic Maharashtra,state
The government also signed an agreement worth Rs600 crore with the Indian Railways for a coach factory at Latur in Marathwada(PTI)

The Maharashtra government attracted an investment of Rs12.10 lakh crore from the 4,106 memoranda of understanding (MoUs) with a potential of generation of 36.77 lakh jobs.

Among the MoUs signed, the significant were the ones signed by the Reliance Industries, with a proposed investment of Rs60,000 crore to set up the country’s first integrated digital area in the state, and Rs40,000 crore agreement by Virgin Hyperloop One for the hyperloop between Mumbai and Pune.

The government also signed an agreement worth Rs600 crore with the Indian Railways for a coach factory at Latur in Marathwada. The factory will build Metro coaches to be exported to other country and has a capacity of generation of 15,000 direct jobs. An MoU worth Rs35,000 crore has been signed with Thrust Aircraft Cluster led by Captain Amol Yadav for the manufacturing of indigenous aircraft at Palghar.

One of the highest contribution to the investment grabbed during the conclave came from housing sector, with a promise of investment of Rs3.85 lakh crore and a potential housing stock of 12 houses across the state. The highest investment has come in the industries sector with Rs5.48 lakh crore, Rs1.60 lakh crore in energy sector. The highest job generation in expected to come from the housing sector at 27.96 lakh jobs, followed by industry with 6.96 lakh jobs.

The conclave also saw agreements for the intention of investment by the state agencies for Rs3.90 lakh crore with the potential employment creation of 2.06 lakh jobs.

Chief minister Devendra Fadnavis summed up the 3-day conclave, which started on February 18, at MMRDA Grounds in Bandra-Kurla Complex on Tuesday, terming it a huge success in terms of investment and in attracting it to the backward areas of Marathwada. “Besides the railway coach factory, Lloyds Metal and Energy Pvt Ltd will invest Rs700 crore to set up a plant at Gadchiroli; Genus Paper and Boards Ltd will invest Rs700 crore in Nandurbar; Technocraft Industries Ltd is investing Rs183 crore in Amaravati. We have signed an MoU worth Rs125 crore with Shiur Agro Limited for the agro processing plant to be set up in Hingoli which is a no industry district,” he said.

The Maharashtra government will also get Rs1,000 crore Maharashtra Defence and Aerospace Fund to promote investment in defence and aerospace as, the CM said, a lot of players have shown interest in investment in the sector.

The CM also claimed that 63.36% of the MoUs signed during the Make In India held in February 2016 at the same venue have been converted into investment in just two years. He said of the 2,984 MoUs signed during the Make In India week, 895 are operational, 597 are in the pipeline and 638 are in their initial stage of the processing to go operational.

About 5000 CEOs and industrial captains, including 500 from other countries, attended the conclave.

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First Published: Feb 20, 2018 23:41 IST