Maharashtra may ink MoC with Japan for big-ticket projects

The state may ask the Japanese govt to develop infrastructure with a view to utilise Japan's public funds

Maharashtra Chief Minister Devendra Fadnavis is expected to sign Memorandum of Cooperation (MoC) with the Japanese government for big ticket projects in the state during his five-day visit to the country starting tomorrow.

According to the Chief Minister's Office (CMO), Maharashtra will make "all possible efforts" for improving the business environment and accelerating infrastructure development of the state.

Under the proposed MoC, Japan External Trade Organization (JETRO) is likely to support investment activities in or around the 1,000 acres reserved for an industrial park at Supa-Parner Industrial Estate near Pune.

The Maharashtra government would improve business environment of this park to meet global standards by utilising incentives.

A 'Project Facilitation Committee (PFC)' comprising of JETRO officials, Japanese companies and Maharashtra government is also likely to be launched to strengthen cooperation between the two governments and resolve the difficulties that Japanese companies may be facing in their projects as soon as possible under the leadership of Maharashtra Industrial Development Corporation (MIDC).

As part of its infrastructure development, the state may ask the Japanese government to develop infrastructure with a view to utilise Japan's public funds.

"Both sides are likely to seek cooperation in future metro projects such as Mumbai metro Phase 2, Nagpur metro and Pune metro in a mutually beneficial manner, and in the important infrastructure projects such as Mumbai Trans-Harbor Link (MTHL)," the official said.