Maharashtra signs MOUs worth Rs 16,100 crore with 12 global corporations

The Maharashtra government has signed Memorandum of Understanding (MOUs) with 12 global corporations from China, US, South Korea, Singapore and Indian companies with investment worth Rs 16,100 crore on June 15, 2020.

Key-Points:

The Magnetic Maharashtra 2.0 was launched on 15 June, 2020 in the presence of Thackeray, Industries Minister Subhash Desai, and senior bureaucrats of the government with global business leaders and representatives of bilateral investment agencies.

The Memorandum of Understanding worth Rs 16,100 crore were signed for various developmental projects in information technology, I-T enabled services, automobile, oil and petroleum, chemicals, logistics and food processing sectors. Around 40,000-acre land has been earmarked for these projects.

The Indian companies that signed the MoUs, include United Phosphorus of Rs 5,000 crore for a chemical plant in Raigad, Isambe Logistics of Rs 1,500 crore in Raigad, Varun Beverages of Rs 820 crore for food processing in Ahmednagar and Hiranandai Group of Rs 150 core for logistics in Pune and Thane.

Some of the prominent companies investing in Maharashtra include ExxonMobil, Great Wall Motors Company, API Motors and United Phosphorus.