Maharashtra leads the chart in Fresh Project Investments secured between Oct-Nov 2020

As per a study released on Monday, Maharashtra attracted investments worth ₹54,714 crores between October and December 2020, thus topping the list of states with fresh investments. The study was conducted and published by Projects Today, a project monitoring organization from Mumbai. 

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The report went on to mention that Maharashtra accounted for one-fifth of the total investments made in the country for new projects. Andhra Pradesh came in at second place by generating investments worth  ₹29,784 crores while Gujarat saw ₹26,530 crores in investments during the October - December 2020 timeline. 

States like Tamil Nadu, Orissa, Uttar Pradesh, Karnataka, Telangana, Punjab, Chhattisgarh and Rajasthan followed. Overall, the country generated investments worth ₹2,76,482 crores with 2,085 new projects. 

The top two projects in terms of the quantum of the investment are in Maharashtra which includes the ₹20,000 crores JSW Steel plant expansion in Raigad’s Dolvi. Meanwhile, K Raheja Corp has been assigned to build an Information Technology (IT) Park in Thane as part of a deal worth ₹7,500 crores. 

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“The memorandums of understanding (MoUs) signed by the Maharashtra government helped the state in topping the fresh projex table in Q3/FY21. The MoUs inked were for setting up mega data centres, steel projects and industrial parks in the state,” says the report by Projects Today.

In November alone, the Maharashtra Government signed Memoranda of Understanding (MoU) with 15 Indian and international companies with an overall investment value of ₹34,850 crores. Further, the state signed MoUs with 25 companies in December 2020. This, the State Industries Minister Subhash Desai said, managed to push the total investments in the state last year to over ₹1 lakh crore. 

“Maharashtra is a preferred location for many industrialists, but we must remember that these are announcements. How much of it bears fruit on ground will be seen in the coming months,” CEO of Projects Today, Shashikant Hegde said.

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