Maharashtra, South Korea ink MoU for infra projects

The Maharashtra government and South Korea signed a MoU for cooperation in construction major infra projects in the state including the upcoming 706 km Mumbai-Nagpur Expressway, an official said here on Tuesday.

The MoU was inked in the presence of visiting Chief Minister Devendra Fadnavis and South Korea's Minister for Land, Infrastructure and Transport Kim Hyun-mee in Seoul on Tuesday.

Detailing various projects, Fadnavis informed Kim that Maharashtra leads in the industrial development in India and has attracted 50 per cent of all foreign direct investments in this country.

As per the MoU, South Korea is expected to support or participate with the state on other major projects like Smart Cities, roads and highways, airports and metrorail coming up in different parts of Maharashtra.

The developments came on the first day of the three-day visit by a high-power delegation led by Fadnavis to South Korea. The delegation will later visit Singapore for a couple of days before returning home on September 29.

Earlier, the state government had signed a MoU with the South Korean Land & Housing Corporation to take up land development, town planning and housing projects along the Mumbai-Nagpur Expressway and set up 'agro-prosperity centres' for boosting agro-based industries and generating employment, officials said.

During his stay, Fadnavis is scheduled to meet top representatives of global giants like Hyundai Heavy Engineering, LG Electronics, Hyosung Corporation, Samsung and others with focus on attracting South Korean FDI for the state.

The delegation included Additional Chief Secretaries Sunil Porwal, Pravin Pardeshi, Principal Secretary Ashish Kumar Singh, Maharashtra State Road Development Corporation Vice-Chairman and MD Bhushan Gagrani and Maharashtra Industrial Development Corporation Chief Executive Sanjay Sethi.

--IANS

qn/him/vd