Devendra Fadnavis expects Rs 12 trillion investment commitments from summit

Devendra FadnavisMaharashtra chief minister Devendra Fadnavis today said the state is targeting investments of around Rs 12 trillion in a host of sectors like defence aerospace infrastructure and gems amp jewellery among other from the ongoing investor summit Fadnavis said the state will sign investment agreements with over two dozen companies in the next two days Investments would come in almost every sector including aerospace logistics and electric vehicle manufacturing and services industry he addedSome of the big investments include an agreement between the Italian sports car major Lamborghini and Kinetic to manufacture ecars and the Gems and Jewellery Export Promotion Councils Rs 14000crore investment to develop a gems amp jewellery park near Mumbai Fadnavis said As of now we feel that probably we will sign agreements worth Rs 1012 trillion he told reporters on the second day of the global investor summit at the MMRDA Grounds in upscale BKC central business districtA green excellence center is also being set up in the state that will provide training to human resources for aerospace and defence manufacturing Defence 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 Rahjea Developer JSW Cement Technocraft Chhatrapati Park Industrial City at Palgarh JNPTs 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 awaitedYesterday Reliance chairman chief Mukesh Ambani had announced Rs 60000 crore investment to set up the countrys first digital industrial township in the state over the next 10 years while the Dubaibased Bin Zayed Group has committed USD 7 billion into the MumbaiNagpur expressway project and Mahindra Group has committed three investments running up to Rs 2300 crore in Mumbai and Nagpur Taking about the states agreement with the Virgin Group for building the worlds 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 wellHowevever like other investment pacts the hyperlool project is also yet to announce the cost of building this futuristic transportation systemm which is also under development in DubaiThis story has been sourced from a third party syndicated feed agencies Except for the change in headline the story has been provided ASIS AS AVAILABLE without any verification or editing from our side Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoeverCatch up on all the latest Crime National International and Hatke news here Also download the new midday Android and iOS apps to get latest updates