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Day 2 of Maha Investment Summit: Softbank Energy, LLP to invest Rs 50K crore in state

The International Bank for Reconstruction and Development (IBRD), an arm of the World Bank that offers loans to middle-income developing countries, is helping to invest Rs 400 crore in a climate management solutions project in the state.

twitter-logo PB Jayakumar        Last Updated: February 19, 2018  | 21:24 IST
Day 2 of Maha Investment Summit: Softbank Energy, LLP to invest Rs 50K crore in state

Close on the heels of big investment commitments from companies like Reliance Industries on day one of the Magnetic Maharashtra Investment Summit in Mumbai, the state garnered a slew of big project investment commitments in sectors like electric vehicles, energy, agriculture, infrastructure, housing and leather on Monday.

In solar, the Japanese company Softbank Energy has committed to make an investment of over Rs 25,000 crore to make solar PV cells. Sources said a similar capacity investment has also come from an overseas investor.

Conceptual advisory services LLP, another overseas investor, would invest Rs 25,000 crore to build affordable houses in the state. Icrisat is investing Rs 63 crore to help farmers double farming income in Vidarbha, they said.

The International Bank for Reconstruction and Development (IBRD), an arm of the World Bank that offers loans to middle-income developing countries, is helping to invest Rs 400 crore in a climate management solutions project in the state.

JSW Group and Mahindra and Mahindra would also invest in the state to make electric vehicles. An MoU for a leather cluster with an investment of Rs 5,000 crore at Pen in Raigad district was also been inked on the second day. 

On Sunday, Reliance Industries Chairman Mukesh Ambani announced plans to launch the 'Fourth Industrial Revolution' in the state with an investment of Rs 60,000 crore and collaboration of over 20 global conglomerates, including companies like  CISCO, Siemens, Corning, HP, Dell, Nokia and Nvidia. 

Mahindra group chairman Ananad Mahindra also had committed to invest Rs 2,300 crore in three projects, including Rs 1,700-crore entertainment destination at Kandivali in Northern suburb of Mumbai. 

 

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