Built to inform

Sign up for the daily newsletters

No, Thank you

Maharashtra govt unveils Magnetic Maharashtra 2.0, inks MoUs worth Rs 16,000 cr

The state government inked 12 memorandums of understanding

State government of Maharashtra, Magnetic Maharashtra 2.0, Memorandums of understanding, Automobile, Information technology, Logistics, Banking, Food processing, Mobile production, Exxon Mobil, Raigad, Heng Li Engineering, Talegaon, Pune, Ascendas Logistics, Chakan, Bhiwandi, Varun Beverages, Supa, Ahmednagar, Hiranandani Group Logistics, APG DC Data Centre, Mahape, Estek Electronics System Design, Ranjangaon, PMI Electro Mobility Solution, Isambe Logistics, Rakbank Data Centre, Thane, Hinjewadi, UPL Chemical, Shahapur, Great Wall Motors, USA, China, South Korea, Singapore, Maharashtra

The state government of Maharashtra unveiled Magnetic Maharashtra 2.0 to draw investments in the state.

The state government inked 12 memorandums of understanding (MoUs) worth over Rs 16,000 crore with companies from diverse sectors such as automobile, logistics, information technology, banking, food processing, engineering and mobile production.

Exxon Mobil will make an investment of Rs 750 crore in Raigad; Heng Li Engineering (Phase-2) worth Rs 250 crore in Talegaon, Pune; and Ascendas Logistics will infuse Rs 560 crore in Chakan, Talegaon (both in Pune), and Bhiwandi.

Apart from this, Varun Beverages will invest Rs 820 crore in Supa, Ahmednagar; Hiranandani Group Logistics worth Rs 150 crore in Bhiwandi, and Chakan; APG DC Data Centre worth Rs 1,100 crore in Mahape and Estek Electronics System Design worth Rs 120 crore in Ranjangaon, Pune.

Further, PMI Electro Mobility Solution will infuse Rs 1,000 crore in Talegaon; Isambe Logistics worth Rs 1,500 crore in Raigad; Rakbank Data Centre will pour Rs 1,500 crore in Thane, Hinjewadi; UPL Chemical worth Rs 5,000 crore in Shahapur and Great Wall Motors will invest Rs 3,770 crore in Talegaon.

The representatives of 12 countries included the US, China, Singapore and South Korea, among others.

The state government will facilitate all the companies that are willing to set up their plants in various parts of Maharashtra. The state government has earmarked 40,000 ha of land parcel for new industries. They will also be offering flexible rental and pricing structures, automatic permissions in 48 hours, capacity matching skilled labours to the industries.

The state government will also ink MoUs worth another Rs 8,000 crore with some more global companies.

Most Popular


Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore


Vital pre-monsoon building works resume in Maharashtra
The state government has permitted pre-monsoon work by BMC and other agencies

Latest Issue

June 2020
10 Jun 2020