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Magnetic Maharashtra: Investments of Rs 16 lakh crore received, 4210 MoUs signed, says CM Devendra Fadnavis

Rs 12.1 lakh cr invested by pvt industry, Rs 3.9 lakh cr from Centre-state deals

Written by Shubhangi Khapre | Mumbai |
February 21, 2018 4:19:29 am
Magnetic Maharashtra, Magnetic Maharashtra Summit, CM Devendra Fadnavis, Devendra Fadnavis, Mumbai News, Latest Mumbai News, Indian Express, Indian Express News At the concluding session of the conclave where he spoke to journalists, Fadnavis said employment generation would be 36.77 lakh (File)

Chief Minister Devendra Fadnavis said Tuesday Maharashtra had received total investments of Rs 16 lakh crore through 4,210 MoUs at the end of the three-day business conclave, Magnetic Maharashtra: Convergence 2018. Around Rs 12.1 lakh crore was invested by private industry and Rs 3.9 lakh crore came from proposals signed between the central and state governments.

At the concluding session of the conclave where he spoke to journalists, Fadnavis said employment generation would be 36.77 lakh.The Government of India and the Maharashtra government signed 104 proposals that would bring an investment of Rs 3.9 lakh crore to the state, he said. Investments in the state made two years ago at the Make In India meet was Rs 8 lakh crore.

“Magnetic Maharashtra’s investments in key projects across sectors will bring total transformation to backward regions,” Fadnavis said. “While Marath-wada stands to gain the most, investments will give a major facelift to the backward regions of Vidarbha, parts of north and western Maharashtra and Konkan,” he added. Lloyd Metal and Energy Pvt Ltd agreed to invest Rs 700 crore in the Maoist violence-affected district of Gadchiroli, while the tribal district of Nandurbar attracted investments worth Rs 700 crore from Genus Paper and Boards Limited, Fadnavis said. In Nanded, among the emerging growth centres, India Agro Anaj Ltd has invested Rs 200 crore. In Hingoli, Rs 125 crore would be invested by Shiur Agro Limited. Fadnavis said: “Hingoli had been dismissed as the non-industrial district in the Economic Survey. Through Magnetic Maharashtra, a new beginning has been made which we pledge to consolidate in the successive years through bigger investments and development.”

Listing region-wise the projects and investments, Fadnavis summed up the global conclave as a “success story” for the state. Among the key investments are that of Reliance Industries Limited for Rs 60,000 crore and the Virgin Hyperloop One for Rs 40,000 crore for high-speed train network between Mumbai and Pune. Thrust Aircraft Cluster will invest Rs 35,000 crore in Palghar, JWS Electrical Vehicle Ltd will invest Rs 6000 crore, Hyosung (Spandex Unit) (AURIC) Rs 1,250 crore in Aurangabad and Mahindra Electrical Vehicles and EV Component Rs 500 crore.

Among the projects signed in the textile sector were those of Hyosung (Spandex Unit) AURIC (Rs 1,250 crore) in Aurangabad, Nirvan Silk Mills PVt Ltd (Rs 296 crore), Palak Industries Amravati (Rs 25 crore), Superblue Denim Pvt Ltd (Rs 125 crore) and Verito Textiles Amravati (Rs 25 crore). Fadnavis highlighted the progress made in energy investments through key projects such as Adani Green Energy at Rs 7,000 crore, ReNew Power Venture Pvt Ltd Rs 14,000 crore, Tata Power Co Ltd Rs 15,000 crore, Soft Bank Energy Pvt Ltd Rs 23,000 crore and Univergy Think Green Pvt Ltd Rs 24,000 crore. Rs 4,000 crore will come through the World Bank project on climate-resilient agriculture in 15 districts.

Royal Agro Foods India Contract Farming and FMCG businesses pledged Rs 1,400 crore. The other investments included ICRISAT (Hyderabad) Kisan Mitra agreeing to work towards double income for farmers in 11 districts of Vidarbha with Rs 66 crore and Palasa Agro Branding’s proposed investment of Rs 2,700 crore. Most of these projects have signed for Phase I of the work and would gradually expand facilities with more investment. “In the past, often investments were mainly overshadowed by manufacturing sectors. Now, we are seeing the partnership with private players in social sectors like agriculture, skill development, logistic parks, energy and education,” Fadnavis said.

Investors in logistics industry include Raj Build Infra (Rs 3,000 crore), Logistic Park India, Pune, (Rs 1,000 crore) and DeviCity Logistic Park in Nagpur (Rs 424 crore). Foreign direct investments through key projects worked out to Rs 3,793 crore. The investors are Emerson Process Management Pvt Ltd (Rs 815 crore), Owens Corning India Pvt Ltd (Rs 1,050 crore), Peri Werk (India) Ltd (Rs 528 crore), ILJIN Global India (Rs 350 crore) and Carrier Midea India Pvt Ltd (Rs 300 crore). The housing sector saw investments through CREDAI Maharashtra (Rs 1 lakh crore), Poddar Housing (Rs 20,000 crore), Khaleeji Commercial Bank and Bhumi Raj (Rs 50,000 crore). NAREDCO (Rs 90,000 crore) and Conceptual Advisory Services LLP (Rs 25,000 crore).

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