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Targeting investments of Rs 12 trn in defence, infrastructure: CM Fadnavis

Fadnavis said the state will sign investment agreements with over two dozen companies in the next two days

Press Trust of India  |  Mumbai 

Devendra Fadnavis, Fadnavis, Maharshtra CM
Maharashtra Chief Minister Devendra Fadnavis Photo: ANI

chief minister on Monday said the state is targeting of around Rs 12 trillion in a host of sectors like defence, aerospace, infrastructure, and gems & jewellery among other from the ongoing

Fadnavis said the state will sign investment agreements with over two dozen companies in the next two days. would come in almost every sector, including aerospace, logistics and manufacturing and services industry, he added.

Some of the big include an agreement between the Italian sports car major Lamborghini and Kinetic to manufacture e-cars, and the Gems and Jewellery Export Promotion Council's Rs 140-billion (Rs 14000-crore) investment to develop a gems & jewellery park near Mumbai, Fadnavis said.

"As of now we feel that probably we will sign agreements worth Rs 10-12 trillion," he told reporters on the second day of the global at the MMRDA Grounds in upscale BKC central business district.

A green excellence center is also being set up in the state that will provide training to human resources for and manufacturing.

companies will set up their facilities in Nagpur, Ahmednagar, Pune, Nashik and Aurangabad, he said.

Some of the other companies that will be investing are Tata Power, Adani Green Energy, K Raheja Developer, JSW Cement, Technocraft, at Palgarh, JNPT's fourth container terminal being developed by Singapore Ports, JSW Electrical Vehicle, and Yes Bank among others.

However, details like the nature and quantum of investments are awaited.

On Sunday, chairman chief had announced Rs 600 billion investment to set up the country's first digital industrial township in the state over the next 10 years, while the Dubai-based Bin Zayed Group has committed $7 billion into the Mumbai-Nagpur expressway project and Mahindra Group has committed three investments running up to Rs 230 billion in Mumbai and Nagpur.

Talking about the state's agreement with the for building the world's first hyperloop transportation system between Mumbai and Pune, he said, "with Virgin, it is an arrangement to create the hyperloop.

"As of now, they have not specified they will manufacture here or not but eventually if they have to invest so much it is always economical to invest here in manufacturing as well."

However, like other investment pacts, the Hyperloop project is also yet to announce the cost of building this futuristic transportation system which is also under development in Dubai.

First Published: Mon, February 19 2018. 15:41 IST