: MoUs inked for investment worth Rs 88,420 crore in Maharashtra #FinanceIndia #StockMarketNEWS #Business Press Trust of India Mumbai Agreements for investment commitments worth Rs 88,420 crore

@StockMarketNEWS Tue 24 Jan, 2023

Posted in: #FinanceIndia #StockMarketNEWS #Business

MoUs inked for investment worth Rs 88,420 crore in Maharashtra #FinanceIndia #StockMarketNEWS #Business
Press Trust of India

Mumbai

Agreements for investment commitments worth Rs 88,420 crore in Maharashtra have been signed so far at the ongoing WEF annual meeting in Davos in Switzerland, the Chief Minister’s Office (CMO) said on Tuesday. Investment agreements worth Rs 42,520 crore were signed on Tuesday, the second day of the meeting in the Swiss Alpine town.

, said a statement from the CMO. Maharashtra Chief Minister Eknath Shinde is in Davos to attend the annual meeting of WEF, the gathering of top political and business leaders which is being held from January 16 to 20.

Giving a break-up of the Rs 42,520-crore investments finalised on Tuesday, the statement said an MoU (memorandum of understanding) with U.S.-based firm New Era Cleantech Solutions was signed to establish a coal gasification project worth Rs 20,000 crore with a capacity to generate 15,000 jobs in Chandrapur district. An agreement with inked with Britain’s Varad Ferro Alloys to establish a steel project worth Rs 1,250 crore at Charmoshi in Gadchiroli district.

Another MoU was inked with Israel’s Rajuri Steels and Alloys to establish a Rs 600-crore steel plant in Chandrapur district in the Vidarbha region, said the statement.

A mega auto project worth Rs 20,000 crore of Gogora Engineering and Badve Engineering will also come in Maharashtra, it said.

An agreement was signed with Portugal’s Alight Plast to establish a plastic automotive project worth Rs 400 crore in Pimpri town of Pune district, said the statement.

Shinde is in Davos to seek investments in Maharashtra, where his government faced flak after big-ticket industrial projects moved to other states, notably Gujarat.

The WEF is an international organization for public-private cooperation.

The Forum engages foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. The regular winter meeting of the global body is being held after a two-year coronavirus pandemic-induced hiatus.