FPJ Exclusive: Maha Govt to ink MoUs for fresh investment of Rs 35,000 cr in data centres, logistics, oil & gas
FPJ Exclusive: Maha Govt to ink MoUs for fresh investment of Rs 35,000 cr in data centres, logistics, oil & gas

Mumbai: In the ongoing coronavirus pandemic and economic downturn, the Maha Vikas Aghadi government seems to have hit the jackpot, having received fresh investment proposals worth Rs 35,000 crore in data centres, logistics, oil and gas, auto, electrical and electronic sectors. The proposed investments will create 24,000 jobs. The state government will sign MoUs with the investors in the presence of Chief Minister Uddhav Thackeray on Monday.

Some of the investors include Netmagic (Rs 10,000 crore), Adani Group (Rs 5,000 crore), ESR India (Rs 4,500 crore) and Colt,UK (Rs 4,500 crore) in data centres at Navi Mumbai.

In the logistics sector, a total investment of Rs 3,000 crore, comprising Rs 1,000 crore from Malpani Warehousing is proposed at Chakan, Talegaon.

Further, Japanese major Mitsubishi Electric will invest Rs 500 crore in electrical and electric products and systems at Talegaon while Bright Sino will invest Rs 200 crore in Raigad.

A state industries department official involved in crafting MoUs with these investors, told The Free Press Journal, “These projects will come up on 900 acres of land, of which 600 acres has already been acquired and the remainder will be done soon. These investors will get a slew of physical and financial incentives. In June, the state government had inked MoUs with 14 companies for the investment of Rs 16,000 crore and the state-run Maharashtra Industrial Development Corporation has already handed over land for the investors. Together, the investment proposals will be a record Rs 51,000 crore attracted by Maharashtra notwithstanding the Covid-19 crisis.’’

He said the investors would get a refund of the State GST and exemption in stamp and electricity duties and additional FSI.

Another official said this is also despite Maharashtra slipping to the 13th place in ease of doing business for the second time at the all-India level.

(To download our E-paper please click here. The publishers permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal