Maharashtra govt unveils Magnetic Maharashtra 2.0, inks MoUs worth Rs 16,000 cr
- MindCept
- Jun 23, 2020
- 1 min read
The state government of Maharashtra unveiled Magnetic Maharashtra 2.0 to draw investments in the state.
The state government inked 12 memorandums of understanding (MoUs) worth over Rs 16,000 crore with companies from diverse sectors such as automobile, logistics, information technology, banking, food processing, engineering and mobile production. Exxon Mobil will make an investment of Rs 750 crore in Raigad; Heng Li Engineering (Phase-2) worth Rs 250 crore in Talegaon, Pune; and Ascendas Logistics will infuse Rs 560 crore in Chakan, Talegaon (both in Pune), and Bhiwandi.
Apart from this, Varun Beverages will invest Rs 820 crore in Supa, Ahmednagar; Hiranandani Group Logistics worth Rs 150 crore in Bhiwandi, and Chakan; APG DC Data Centre worth Rs 1,100 crore in Mahape and Estek Electronics System Design worth Rs 120 crore in Ranjangaon, Pune.
Further, PMI Electro Mobility Solution will infuse Rs 1,000 crore in Talegaon; Isambe Logistics worth Rs 1,500 crore in Raigad; Rakbank Data Centre will pour Rs 1,500 crore in Thane, Hinjewadi; UPL Chemical worth Rs 5,000 crore in Shahapur and Great Wall Motors will invest Rs 3,770 crore in Talegaon.
The representatives of 12 countries included the US, China, Singapore and South Korea, among others. The state government will facilitate all the companies that are willing to set up their plants in various parts of Maharashtra. The state government has earmarked 40,000 ha of land parcel for new industries. They will also be offering flexible rental and pricing structures, automatic permissions in 48 hours, capacity matching skilled labours to the industries. The state government will also ink MoUs worth another Rs 8,000 crore with some more global companies.
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