Maharashtra inks MoUs worth ₹42,893 cr; projects to create over 28k jobs

The Maharashtra government on Tuesday signed memoranda of understanding (MoUs) worth Rs 42,893 crore with various companies for data centre and solar energy projects in the state.

Speaking on the occasion, Chief Minister Devendra Fadnavis said the state is emerging as the data centre capital and solar energy integration capital of India.

Eight MoUs for various investments and two strategic agreements, including a partnership with the UK to attract foreign investments, were signed.

The MoUs worth Rs 42,893 crore are expected to generate 28,558 jobs, it was stated.

The chief minister said these investment commitments reflect the trust of investors and the leadership of Prime Minister Narendra Modi.

Fadnavis assured investors that the state government will offer full support from start to finish to ensure smooth implementation of the projects. 

He also announced renewed momentum for the state's ambitious hyperloop project, now progressing with the involvement of IIT Bombay and IIT Madras.

"This project will bring a transformative change in the fields of logistics, transportation, and mobility not only in Maharashtra, but across India," he said.

As per the statement issued by the Chief Minister's Office, the MoUs were signed with Jupiter International Ltd to invest Rs 10,900 crore for solar panel manufacturing, creating 8,308 jobs, Rochak Systems Pvt Ltd to set up a data centre with an investment of Rs 2,508 crore, generating 1,000 jobs, Rovison Tech Hub Pvt Ltd for a data centre project worth Rs 2,564 crore, creating 1,100 jobs.

Apart from this, Wow Iron & Steel Pvt Ltd will invest Rs 4,300 crore in the steel industry, creating 1,500 jobs, Webmint Digital Pvt Ltd will invest Rs 4,846 crore in a data centre, generating 2,050 jobs, Atlas Copco to invest Rs 575 crore in the industrial equipment sector, generating 3,400 jobs, LNK Green Energy will invest Rs 4,700 crore in green energy, creating 2,500 jobs and Prestige Estate Projects Ltd to invest Rs 12,500 crore in data centres, logistics and real estate, creating 8,700 jobs.

A strategic agreement was also signed with the Global India Business Corridor to attract investments from the UK and Europe, while an MoU was signed with TUTRR Hyperloop Pvt Ltd to develop an advanced transport system at JNPT and Vadhavan Ports.