MIDC signs 25 MoUs worth Rs 15,260 cr at Dubai World Expo 2020

MIDC signs 25 MoUs worth Rs 15,260 cr at Dubai World Expo 2020

At the ongoing World Expo 2020 in Dubai, Maharashtra Industrial Development Corporation (MIDC) on Saturday signed 25 MoUs under Magnetic Maharashtra 2.0 with a proposed investment of around 15,260 crores ($2 billion).

With this, Magnetic Maharashtra 2.0 was in its seventh edition and its first international edition.

MIDC in its release said that the Memorandum of Understanding (MoU) are in key sectors such as auto and auto components, logistics, electric vehicles, textiles, data centres, pharma, biofuels and energy.

This proposed investment will lead to potential direct employment generation for 10,851 people.

It said that companies willing to invest in Maharashtra are from Japan, Singapore, Sweden, Korea, Germany and Italy.

The Maharashtra government is participating in the Dubai Expo between November 19, 2021 and December 2, 2021 and a delegation led by Industries Minister Subhash Desai, along with other senior officials of the Industry Department, between November 19 and 21, 2021, the release said. Officials have joined.

Maharashtra has increased its Foreign Direct Investment (FDI) inflows from Rs 2,543 crore in 2004-05 to Rs 79,216 crore in 2019-20 and is a strong contributor to the total FDI flowing into the country.

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