https://sputniknews.in/20230118/faith-of-investors-in-maharashtra-proven-in-davos-state-chief-544107.html
Faith of Investors in Maharashtra Proven in Davos: State Chief
Faith of Investors in Maharashtra Proven in Davos: State Chief
Sputnik India
The World Economic Forum, a 5-day non-governmental annual summit in Switzerland, is known for bringing together hundreds of investors and politicians from... 18.01.2023, Sputnik India
2023-01-18T14:41+0530
2023-01-18T14:41+0530
2023-01-18T14:41+0530
political affairs
maharashtra
world economic forum (wef)
investors
india
davos
memorandum of understanding
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The faith of global investors in India's Maharashtra has been proven in Davos, State Chief Eknath Shinde says, after his state signed a Memorandum of Understanding (MoU) for investments worth more than INR 450 billion ($5.513 billion) at the World Economic Forum (WEF) Annual Meeting.The major deal was signed with Taiwan's Gogoro and automotive system maker Belrise Industries, under which the two firms will invest $2.5 billion over the next eight years in building battery-swapping infrastructure in Maharashtra.The Maharashtra government also signed a $2.5 billion MoU with a US-based firm, New Era Cleantech Solution, to establish coal gasification in the Chandrapur district. The project alone is designed to generate around 15,000 jobs in the region. Finally, two steel project deals were struck with the UK's Varad Ferro and Alloys in the Vidharba region and Israel's Rajuri Steels and Alloys, respectively.Meanwhile, the current state government is facing flak from the opposition after some big industrial projects recently moved to neighboring Gujarat state.
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Deexa Khanduri
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Faith of Investors in Maharashtra Proven in Davos: State Chief
Deexa Khanduri
Sputnik correspondent
The World Economic Forum, a 5-day non-governmental annual summit in Switzerland, is known for bringing together hundreds of investors and politicians from across the globe.
The faith of global investors in India's Maharashtra has been proven in Davos, State Chief Eknath Shinde says, after his state signed a Memorandum of Understanding (MoU) for investments worth more than INR 450 billion ($5.513 billion) at the World Economic Forum (WEF) Annual Meeting.
The major deal was signed with Taiwan's Gogoro and automotive system maker Belrise Industries, under which the two firms will invest $2.5 billion over the next eight years in building battery-swapping infrastructure in Maharashtra.
The Maharashtra government also signed a $2.5 billion MoU with a US-based firm, New Era Cleantech Solution, to establish coal gasification in the Chandrapur district. The project alone is designed to
generate around 15,000 jobs in the region.
Finally, two steel project deals were struck with the UK's Varad Ferro and Alloys in the Vidharba region and Israel's Rajuri Steels and Alloys, respectively.
The MoUs struck at Davos would bring about a robust employment generation in a variety of sectors in Maharashtra, a statement issued by the state chief's office says.
Meanwhile, the current state government is facing flak from the opposition after some big industrial projects recently moved to neighboring Gujarat state.
