From data centres to renewables, Maharashtra signs big-ticket MoUs worth ₹14.5 lakh crore at Davos

Maharashtra on Monday signed 19 memoranda of understanding (MoUs) involving investment commitments of about ₹14.5 lakh crore and generation of over 15 lakh jobs on the opening day of the World Economic Forum (WEF) annual meeting in Davos.

Chief Minister Devendra Fadnavis, who is in Swiss town for the high-profile gathering, said the state was receiving a positive response from global investors, with even the ambitious ‘third Mumbai’ project attracting considerable interest.

He presided over multiple MoU exchanges between the Maharashtra government and leading firms across food and beverages, renewable energy, steel, logistics, real estate and urban infrastructure.

Real estate major Lodha Developers signed an MoU with the Maharashtra government to invest an additional ₹1 lakh crore in a large data centre project in the state. The agreement was signed by the company’s managing director and chief executive officer Abhishek Lodha on the sidelines of the WEF meeting.

With the fresh commitment, Lodha’s total proposed investment in the data centre park will rise to ₹1.3 lakh crore, including a ₹30,000 crore MoU signed in September last year under the state’s Green Integrated Data Centre Park policy.

The proposed park, with a capacity of about 2.5 gigawatts, is expected to be the largest in the country and create over 16,000 direct and indirect jobs.

Major global players such as Amazon and Singapore-based STT Global Data Centres have already acquired land parcels in the park, according to the company.

The state government signed an MoU with Carlsberg for an investment of ₹500 crore in the food and agro sector, which is expected to generate 750 jobs.

Maharashtra also signed an MoU with Yoki Green Energy involving an investment of ₹4,000 crore in the renewable energy sector, creating about 6,000 jobs in the Palghar and Mumbai Metropolitan Region (MMR).

Another MoU was signed with BFN Forgings for a ₹565 crore investment in the steel sector in Palghar/MMR, with an employment potential of 847.

Fadnavis also presided over MoU exchanges between GoM, through the Mumbai Metropolitan Region Development Authority (MMRDA), and several global entities, including Sumitomo Realty & Development (investment of $8 billion; 80,000 jobs), K Raheja Corp ($10 billion; 1,00,000 jobs), Panchshil Realty in partnership with Alta Capital ($25 billion; 2,50,000 jobs), and IISM Global ($8 billion; 80,000 jobs).

Addressing investors at the Maharashtra Pavilion, Fadnavis said the state has emerged as India’s gateway for foreign investment and will continue to attract large inflows across regions and sectors.

“Maharashtra is reliable. We do what we say, and that is why investors from across the world trust us,” he said, adding that the ecosystem created under the leadership of Prime Minister Narendra Modi has helped the state draw large-scale investments.

The chief minister said Maharashtra is engaging with industries across 10 to 12 sectors and expects strong interest in infrastructure-led projects, including the third Mumbai.

Fadnavis noted that the state accounted for 39% of India’s total foreign direct investment last year and has rolled out 15-16 investor-friendly policies to ensure a stable business environment.

He assured investors of full protection and a zero-tolerance approach on law and order, saying Maharashtra remains one of the safest and most reliable destinations for investment in India.