Maharashtra govt signs MoUs worth over Rs 45,000 crore

The state-run Rashtriya Chemicals & Fertilisers would invest Rs 6,204 crore for the third phase of Thal plant

The Maharashtra government on Tuesday signed memorandum of understandings (MoUs) with an investment intention of over Rs 45,000 crore in automobiles, steel, fertilisers, realty, IT & ITES, ports and skill development. These MoUs were exchanged in the presence of Chief Minister Devendra Fadnavis at the Make In India Week function at the MMRDA grounds at BKC. These are in addition to the MoU with Vedanta group for a LCD Fab plant worth Rs 20,000 crore and the Rs 1,400 crore MoU with Raymond in the textile sector.

Mahindra & Mahindra will invest Rs 8,000 crore, comprising Rs 6,500 crore at its Nashik plant and Rs 1,500 crore in the Chakan unit in the next five years. In Nashik, the company proposes to continue its Ingenio project (Xylo, Qyanto and its variants). Mercedes will investment Rs 2,000 crore at the Chakan plant. This would be the third expansion, taking the vehicle capacity to 80,000 from the present 20,000.

Posco and Uttam Galva together signed an MoU but did not disclose the investment amount. Uttam Galva has already announced expansion of its steel plant in Wardha at Rs 3,750 crore while Posco would invest in the Wardha and Sindhudurg plants of Uttam Galva.

The state-run Rashtriya Chemicals & Fertilisers would invest Rs 6,204 crore for the third phase of Thal plant to expand urea capacity in Raigad district and another Rs 631 crore in energy saving schemes at Thal plant. Additionally, it will invest Rs 131 crore to revamp its urea plant in Trombay, north east Mumbai.

Additional investments include Rs 4,571 crore by Ascendas in Navi Mumbai in the IT sector, Rs 5,000 crore by Panchshil in realty and IT in Pune, Rs 3,750 crore by K Raheja in IT parks, Rs 3,000 crore by Godrej to expand its existing unit at Khalapur in Raigad district. Furthermore, Sudarshan Chemicals proposes to invest Rs 1,100 crore to produce pigment and agro chemicals in Raigad district while JSW Jaigarh Ports Rs 6,000 crore in Ratnagiri district to set up LNG terminal.

Additionally, JSW Foundation, Uber, Volkswagen will invest in skill development.