Day 3 at Davos: Investments in Maharashtra hit Rs 80,000 crore plus

Renew Power commits to invest Rs 50,000 crore for Renewable Energy generation

Sanjay JogUpdated: Tuesday, May 24, 2022, 09:23 PM IST
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Day 3 at Davos: Investments in Maharashtra hit Rs 80,000 crore plus |

The Maharashtra government at the sidelines of World Economic Forum’s annual meeting at Davos signed over Rs 80,000 crore ($10.5 Billion) in investment intentions with 24 companies and 2 MoUs of strategic co-operation.

Renew Power will invest an astonishing Rs 50,000 crore ($6 billion) in Renewable Power generation in the state with a generating capacity of 10,000 to 12,000 mw.

Chairman and Managing Director of ReNew Power, Sumant Sinha signed the MoU with the Government of Maharashtra.

Investments coming to state are from countries such as Singapore, Indonesia, USA, and Japan and include investment in diverse sectors including Pharmaceuticals and Medical Device, IT, Data Centers, Textiles, Food Processing, Packaging, Paper & amp, Pulp, and Steel.

Additionally, the state government signed an MoU with BYJU’S for introducing digital content in the remote areas of the state and municipal schools in Mumbai. This co-operation will be extremely helpful for lakhs of students in the Government schools in the state.

Furthermore, the state also signed a strategic co-operation agreement with World Green Building Council for knowledge sharing and helping the state achieve its net zero emission targets and for the capacity building of state authorities in Environmental Sustainability Governance.

Meanwhile, Industry Ministry Subhash Desai, who was accompanied by the additional chief secretary of the industry department Baldev Singh and Maharashtra Industrial Development Corporation P Anbalagan, met the founder and chairman of Vedanta Resources Limited Anil Agalwal and invited him to Maharashtra for investments.

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