Magnetic Maharashtra Summit wraps up with huge investments; CM Fadnavis terms it as ‘success story’
 Source : NewsBharati  Date : 21-Feb-2018

Mumbai, February 21: Magnetic Maharashtra Convergence day 3 was another important day as around Rs 12 lakh Crores of investments was drawn by signing 4,106 MoUs. On wrapping session of Magnetic Maharashtra Summit, Chief Minister Devendra Fadnavis stressed that “Magnetic Maharashtra’s investments in key projects across sectors will bring total transformation to backward regions.” 

Around Rs 12.1 lakh Crores was invested by private industry and Rs 3.9 lakh Crores came from proposals signed between the central and state governments.

CM Fadnavis addressed UK-India CEO Roundtable discussion where he discussed and answered various questions by UK CEOs and proposed to appoint a nodal officer to assist them in every sector. Further CM also briefed them on skilled manpower and industry-friendly initiatives of the government of Maharashtra.

Addressing the CEOs CM said that Mumbai is financial services capital.We have announced #Fintech policy.This will add into our GDP,create more employment.We have planned the future systematically. All infrastructural projects are on right track and maintaining our timelines.

On Sunday where Prime Minister Narendra Modi inaugurated Navi Mumbai International Airport, CM Fadnavis informed that first flight from Navi Mumbai International Airport to takeoff by Dec 2019.

Appealing to the investors, CM Fadnavis said that we need more Star Hotels and we are on it. Our focus is on expanding tourism potential. We are here always for you. Maharashtra is the destination which fulfils all your expectations.

One of the MoU which was signed between J. K. Investors Ltd & government of Maharashtra worth Rs 50 Crores caters school project and Rs 375 Crores for a sports complex at Nandgaon Peth, Amravati.

Another MoU includes Reliance Industries Ltd.’s plan to develop an integrated industrial area with an investment of Rs 60,000 Crores and Indian Railway’s MoU to invest Rs.600 Crores to set up a facility to manufacture metro coaches in Latur.

CM Fadnavis said that Metro coach factory at Latur will change the entire scenario and create huge development and employment opportunities in Marathwada!

On the 3rd day of Summit, CM Fadnavis launched the initiative called ‘Sahabhag’ and encouraged everyone to participate for a social cause.

Further CM Fadnavis also announced setting up of Maharashtra Defence and Aerospace Fund (MDAF) of Rs 1000 Crores through MIDC India.

Key investments in Magnetic Maharashtra Convergence:

  • Lloyd Metal and Energy Pvt Ltd agreed to invest Rs 700 Crores in the Maoist violence-affected district of Gadchiroli, while the tribal district of Nandurbar attracted investments worth Rs 700 Crores from Genus Paper and Boards Limited, CM Fadnavis said.
  • In Nanded, among the emerging growth centres, India Agro Anaj Ltd has invested Rs 200 Crores. In Hingoli, Rs 125 Crores would be invested by Shiur Agro Limited.
  • Reliance Industries Limited agreed for Rs 60,000 Crores and the Virgin Hyperloop One for Rs 40,000 Crores for high-speed train network between Mumbai and Pune.
  • Thrust Aircraft Cluster will invest Rs 35,000 Crores in Palghar, JWS Electrical Vehicle Ltd will invest Rs 6000 Crores, Hyosung (Spandex Unit) (AURIC) Rs 1,250 Crores in Aurangabad and Mahindra Electrical Vehicles and EV Component Rs 500 Crores.

In Textile Sector:

  • Hyosung (Spandex Unit) AURIC (Rs 1,250 Crores) in Aurangabad, Nirvan Silk Mills PVt Ltd (Rs 296 Crores)
  • Palak Industries Amravati (Rs 25 Crores)
  • Superblue Denim Pvt Ltd (Rs 125 Crores)
  • Verito Textiles Amravati (Rs 25 Crores).

Power and Energy Sector:

  • Adani Green Energy at Rs 7,000 Crores
  • ReNew Power Venture Pvt Ltd Rs 14,000 Crores
  • Tata Power Co Ltd Rs 15,000 Crores
  • Soft Bank Energy Pvt Ltd Rs 23,000 Crores
  • Univergy Think Green Pvt Ltd Rs 24,000 Crores. Rs 4,000 Crores will come through the World Bank project on climate-resilient agriculture in 15 districts.

Food and Agriculture:

  • Royal Agro Foods India Contract Farming and FMCG businesses pledged Rs 1,400 Crores. ICRISAT (Hyderabad) Kisan Mitra to double income for farmers in 11 districts of Vidarbha with Rs 66 Crores
  • Palasa Agro Branding’s proposed investment of Rs 2,700 Crores.


  • Raj Build Infra (Rs 3,000 Crores)
  • Logistic Park India, Pune, (Rs 1,000 Crores)
  • DeviCity Logistic Park in Nagpur (Rs 424 Crores)

Foreign direct investments

  • Management Pvt Ltd (Rs 815 Crores)
  • Owens Corning India Pvt Ltd (Rs 1,050 Crores)
  • Peri Werk (India) Ltd (Rs 528 Crores)
  • ILJIN Global India (Rs 350 Crores)
  • Carrier Midea India Pvt Ltd (Rs 300 Crores)

Housing Sector

  • CREDAI Maharashtra (Rs 1 lakh Crores)
  • Poddar Housing (Rs 20,000 Crores)
  • Khaleeji Commercial Bank and Bhumi Raj (Rs 50,000 Crores)
  • NAREDCO (Rs 90,000 Crores)
  • Conceptual Advisory Services LLP (Rs 25,000 Crores)