Make In Maharastra - Recent Investment - Part - 5

Recent Investments: Make in Maharashtra

Part 5

'Make in India- Promoting entrepreneurship & Innovation'

INTRODUCTION


Under the ‘Make in Maharashtra’ campaign the state government is seeking an investment of INR 5 lakh crore by the end of 2019. Since January 2015, the state has already received 18 FDI proposals from industrial groups from across the globe. This proposed investment worth INR 59,107 crore has the potential to create more than one lac jobs. This includes Taiwanese contract manufacturer Foxconn, Coca Cola, General Motors, GE and several others. Some of the recent investments in the state have been listed below-


Recently, the Taiwanese global electronics contract manufacturer Foxconn, announced investment of USD 5 billion over the next three years for setting up electronic manufacturing and research and development facilities in the state. Foxconn makes devices for Apple, Huawei, Xiaomi, Black Berry and Motorola. Under the agreement signed with the state government, Foxconn will be alloted 1,500 acres of land either near Mumbai or Pune to set up its manufacturing facilities for production of mobile devices, TVs, electronic products, batteries and key electronic components, among others. The proposed investment is expected to provide employment to more than 50,000 people.


In June 2015, the state government signed a MoU with Blackstone and Panchsil SPV for investment in three projects worth Rs 4,500 crore and generation of some 50,000 jobs. Blackstone will invest 750 crore rupees in developing EON Free Zone SEZ; 1200 crore rupees in developing Hinjewadi Phase-3; 1500 crore rupees in IT Park in Central Mumbai and 1050 crore rupees in other IT parks in Mumbai.


US energy major GE is planning an additional investment of INR 3,000 crore in Maharashtra. The investment would be for producing large-capacity power turbines in the State. Earlier in 2011, the company made an investment of INR 700 crore in the state for manufacturing healthcare equipment, gas engines and also assemblies and testing of wind turbines


German luxury carmaker Mercedes-Benz is planning an additional investment of INR 1,000 crore for production of luxury cars in Maharashtra. This will be the second large investment by the auto major, which had earlier invested INR 1,000 crores in 2007.


Chrysler is planning to invest INR 3,500 crore to set up its manufacturing plant in Ranjangaon in Maharashtra. Initially, the firm will be investing INR 1,750 crore, which would be increased up to INR 3,500 crore in the next six years for setting up the manufacturing plant. • General Motors (GM) is planning to invest INR 6,400 crores expansion of its manufacturing facility in Pune district. • Recently, Coca Cola announced its plan to invest Rs 500 crore at Lote Parshuram in Chiplun MIDC, Maharashtra

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Make In Maharastra - Recent Investment - Part - 5

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Transcript of Make In Maharastra - Recent Investment - Part - 5