The Adani Group has signed Memorandum of Understandings (MoUs) with the Maharashtra government for projects worth Rs 6 lakh crore. The announcement came on Tuesday, at the sidelines of World Economic Forum in Davos, Switzerland.
The MoUs span multiple development sectors, including data centres, urban infrastructure, renewable energy, semiconductor and display fab unit, and arena development.
The pacts have been signed for investments over a span of 10 years.
"As a group we have committed an investment of 6 lakh crore, which is over 60 billion dollars over the next 7-10 years. These are all very different sectors data centers, urban infrastructure development (such as integrated townships) renewable energy projects, coal gasification — all of these sectors put together the arena," Director of Adani Enterprises Pranav Adani said.
The memorandum was signed in the presence of Maharashtra's Chief Minister Devendra Fadnavis, who highlighted that the most important thing about the deal is that the inflow of Foreign Direct Investment in Maharashtra is happening on a very large scale. He termed such singular big FDI deals as rare.
Fadnavis added that because of the MoU, a lot of jobs will be created in the state and that the economy will ultimately feel the positive ripples of this deal.
"Coal gasificiation derivatives create jobs on a very large scale," the CM pointed out.
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Pranav Adani lauded government ministries such as the Department of Industry, the Urban Ministry among others for coming forward in terms of investments in a way that is "path-breaking".
Further, the Adani Enterprises Director underscored how Maharashtra has since a long time provided an environment that is conducive for ease-of-doing-business, attracting big corporates to the state. He added that the state is also inviting towards large projects.
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