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From Hyundai Motors To Web Werks Inked MoUs With Maharashtra At Davos

Maharashtra Chief Minister Eknath Shinde said that the state has inked a memorandum of undertaking (MoUs) worth INR 3 lakh 50 thousand crore at the event.

From Hyundai Motors To Web Werks Inked MoUs With Maharashtra At Davos
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Maharashtra Chief Minister Eknath Shinde after returning from World Economic Forum 2024 held in Davos, said that his trip was successful. He said that the state has inked a memorandum of undertaking (MoUs) worth INR 3 lakh 50 thousand crore at the event.

Taking to X (formerly Twitter), CM Shinde made the announcement of signing MoUs and thanked all the investors. CM Shinde wrote on X, “A record MoU of 3 lakh 53 thousand crores has been signed during this visit and interest has been shown for investment of 1 lakh crores. Also, up to 2 lakh jobs will be created through this investment in the state. International companies like Arsenil Mittal, Nippon, domestic renowned companies like Jindal, Adani have shown interest to invest in Maharashtra. At this time, it was clarified that the government will keep its eyes on the completion of the agreements made this year like last year.”

CM Shinde underscored the importance of practical implementation and the growth's acceleration over the previous year. The Chief Minister’s Office (CMO) in its statement said the state's image has been pushed as being people-oriented, with a focus on industrialisation, having skilled labour, and making decisions quickly.

CMO posted on X about different MoUs signed at the World Economic Forum 2024. The official handle of Mharashtra CM posted, “Mahatma Phule Renewable Energy and Infrastructure Technology Limited Company (Mahapreet) and Scandinavian E.S.G. signed an MoU of INR 16 thousand crore at Davos. According to this agreement signed in the presence of the Chief Minister Eknath Shinde innovative activities, capital, financial system will be created for the projects of renewable energy, green energy, fuel production from waste. Amol Shinde, Managing Director of Mahapreet, expressed satisfaction that this collaboration with Scandinavian ESG will provide an opportunity to use technology in the field of biofuels, green energy in Maharashtra.”

Sharing about Hundai Motors deal, CMO wrote on X, “At the World Economic Forum in Davos automotive manufacturer Hyundai Motors agreed to sign an MoU to invest INR 6,000 crore in the state. Company's Unsu Kim met Chief Minister Eknath Shinde at Maharashtra Hall. As per this MoU, a factory will be set up in Pune Talegaon and it will provide direct and indirect employment to 4500 people. The company has also emphasized on strengthening ties with Maharashtra.”
CMO also announced that Alu Tech Company will invest in Maharashtra and in the presence of the Maharashtra CM the company signed a memorandum of understanding for investment of INR 2075 crores inthe state. This investment will create employment opportunity for 400 people. CMO said that at the event Web Werks, one of India's most trusted data center providers, agreed to sign an MoU worth INR 10,000 crore to invest in Maharashtra. The agreement will see the Webworks company invest in a mega IT/ITES data center over the next 5 years, which will provide direct employment to 150,000 people.
For investing in the Pulp and Paper sector of Maharashtra, a Singapore-based natural resource conglomerate signed an MoU worth INR 20,000 crore. A leading name in the field of pulp and paper manufacturing, the group is seen as the world's largest and most technologically advanced and efficient producer in the field. CM Shinde and company officials discussed about capacity and possibility of expansion in pulp and paper sector in Maharashtra.
Carlsberg Group International CEO Jacob Andersen met CM Shinde in Davos. While their interaction, Adderson held a detailed discussion with the Chief Minister regarding infrastructure and investment opportunities they can bring in Maharashtra.
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