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MMR Gets Massive Infrastructure Boost as Maharashtra Govt Signs INR 4.07 Lakh Crore MoUs

Maharashtra CM said that when money is invested in infrastructure, employment is created on a large scale.

MMR Gets Massive Infrastructure Boost as Maharashtra Govt Signs INR 4.07 Lakh Crore MoUs
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Maharashtra Chief Minister Devendra Fadnavis asserted that the development of the Mumbai Metropolitan Development Authority (MMRDA) area will get a big boost due to the MoU worth INR 4,07,000 crores signed for the infrastructure development of the area.  

Stating that the Mumbai Metropolitan Region (MMR) has great economic potential, Chief Minister Fadnavis said that the MMR region alone has the potential of an economy of one and a half trillion dollars. The MoU signed will provide a large amount of funds for the construction of infrastructure in this region.

Also, the agreement signed with Unilever Company will benefit the development of Pune. There are great opportunities in the city of Pune. This agreement will increase these opportunities and along with employment generation, will elevate Pune's position at the international level.

Devendra Fadnavis said, “The MMR has immense economic potential, and this large-scale funding will pave the way for transformational infrastructure projects. The investments are aimed at a comprehensive upgrade of the MMR’s infrastructure, encompassing roads, metro rail systems, highways, flyovers, coastal roads, and essential utilities such as drinking water supply.”

To establish a Global Capability Centre (GCC) for Unilever's Magnum Ice Cream business in Pune, a Memorandum of Understanding (MoU) was signed on April 8. 500 employment opportunities will be created by this centre, which will require an investment of INR 900 crore.

Speaking about the companies that are willing to invest in Maharashtra’s development, Devendra Fadnavis said, “MMRDA is the biggest GCC for them. They have decided to locate it in Pune. They have done an MOU with us in Pune. This will give a huge boost to the GCC ecosystem in Pune.”

MMRDA and HUDCO signed an infrastructure development agreement worth INR 1.5 lakh crore. A total of INR 4,07,000 crore agreements were also inked, including INR 1 lakh crore with REC, INR 1 lakh crore with PFC, INR 1 lakh crore with IRFC (Indian Railway Finance Corporation), and INR 7 thousand crore with the National Bank for Financing Infrastructure and Development.

Devendra Fadnavis said, “I believe that this is a historical investment. How will the recovery look in the coming days? I believe that the recovery will look good. We are trying to assess the business opportunity and move ahead in that direction. If we look at the overall effect, it will be a moderate effect. That is why the market is slowly improving. How will the recovery look in the coming days? There will be good employment in the GCC.”

Maharashtra CM said that when money is invested in infrastructure, employment is created on a large scale.

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