In a landmark move aimed at accelerating economic growth in Maharashtra, Chief Minister Devendra Fadnavis announced the signing of Memoranda of Understanding (MoUs) worth Rs 4.07 lakh crore for infrastructure development in the Mumbai Metropolitan Region (MMR). The agreements were signed during the prestigious Global Forum 25 event. Describing the occasion as “historic,” Fadnavis stated that the investment will significantly boost the region's development trajectory and unlock its potential to evolve into a 1.5 trillion dollar economy.
“The MMR has immense economic potential, and this large-scale funding will pave the way for transformational infrastructure projects. The investments are aimed at a comprehensive upgrade of the MMR’s infrastructure, encompassing roads, metro rail systems, highways, flyovers, coastal roads, and essential utilities such as drinking water supply,” he said.
The development roadmap has been prepared in collaboration with NITI Aayog to strategically shape the region’s future.
Key MoUs signed include:
- Rs 1.5 lakh crore between MMRDA and Housing and Urban Development Corporation (HUDCO)
- Rs 1 lakh crore with Rural Electrification Corporation (REC)
- Rs 1 lakh crore with Power Finance Corporation (PFC)
- Rs 1 lakh crore with Indian Railway Finance Corporation (IRFC)
- Rs 7,000 crore with the National Bank for Financing Infrastructure and Development (NaBFID)
In a parallel development, an MoU was also signed with global consumer goods giant Unilever to establish a Global Capability Centre in Pune for its Magnum ice cream business. The facility will involve an investment of Rs 900 crore and is expected to create 500 jobs, reinforcing Pune’s position as an emerging global hub for innovation and operations.
“Pune has vast untapped opportunities, and this investment will elevate the city’s international standing while creating new employment avenues,” the Chief Minister added.
The announcements mark a significant milestone in Maharashtra’s efforts to attract high-value investments and strengthen its urban infrastructure, setting a new benchmark in regional economic planning and growth.