Davos [Switzerland], January 24 : The Mumbai Metropolitan Region Development Authority (MMRDA) has signed 11 pivotal Memorandums of Understanding (MoUs) worth USD 40 billion (Rs 3.5 lakh crore) at the prestigious World Economic Forum (WEF) in Davos, Switzerland.
These investments, spanning urban transport, regional development, and cutting-edge technologies, will serve as a cornerstone for economic growth and enhanced quality of life in the region over the next 3-5 years, according to an official release.
Marking its golden jubilee, MMRDA celebrated 50 years of transformative growth both locally and globally.
At the World Economic Forum in Davos, Chief Minister Devendra Fadnavis congratulated MMRDA, while Deputy Chief Minister and MMRDA Chairman Eknath Shinde commended its contributions during a celebration in Mumbai
"Securing USD 40 billion in investments on this momentous occasion showcased MMRDA's international stature and its commitment to driving growth and innovation in the Mumbai Metropolitan Region," the release said.
"MMRDA's ability to attract such significant investments underscores its position as a global gateway for investors. With a robust infrastructure network, including an international airport, world-class transport systems, and emerging hubs for logistics and data centres, the Mumbai Metropolitan Region offers unparalleled potential for growth and innovation," it added.
Maharashtra Chief Minister Devendra Fadnavis lauded the development and said, "The World Economic Forum at Davos has opened a new chapter for MMR, aligning with MMR's vision of becoming a trillion-dollar economy. These partnerships will not only drive infrastructure growth but also foster job creation and economic sustainability for the region, while celebrating the golden jubilee of MMRDA, it's a truly" celebration of Development'."
Metropolitan Commissioner, Sanjay Mukherjee, said "Securing USD 40 billion at Davos marks a historic milestone for MMRDA. These investments reaffirm our commitment to driving sustainable, inclusive, and transformative growth in the Mumbai Metropolitan Region, setting new benchmarks in urban development and global collaboration. These MoUs reflect the confidence of global investors in MMR's potential to emerge as a global economic hub, creating opportunities for millions and contributing to India's growth story."
The MoUs are part of MMRDA's broader vision to align with the goals outlined by NITI Aayog and the Government of Maharashtra, the release read.
With targeted investments in infrastructure, new growth centres, and innovative projects like the Circular Economy Park, the Mumbai Metropolitan Region is on track to achieve a USD 300 billion economy and create 3 million jobs by 2030, it added.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor