• Vietnamese company to invest USD 6.5 billion in Maharashtra; MoU signed with Industries Department and Mumbai Metropolitan Region Development Authority
Mumbai :- With a focus on sustainable urban development, industrial and tourism growth, renewable energy capacity, and electric mobility, Vietnam-based Vingroup Joint Stock Company will invest approximately USD 6.5 billion in Maharashtra. An MoU to this effect was signed in the presence of Chief Minister Devendra Fadnavis between the company, the State Industries Department, and the Mumbai Metropolitan Region Development Authority.
The Chief Minister expressed confidence that this investment will accelerate sustainable development, green energy adoption, modern infrastructure, and efficient mobility systems in the state. The agreement was signed at the official residence ‘Varsha’ by MMRDA Metropolitan Commissioner Dr. Sanjay Mukherjee, Principal Secretary (Industries) P. Anbalagan, and Vingroup Asia Operations CEO Pham Sanh Chau.
Chief Minister Devendra Fadnavis stated that Vingroup’s entry into Maharashtra is a matter of pride and comes at an opportune time when the state is witnessing rapid development. He noted that Mumbai and Raigad are poised to emerge as globally competitive and highly dynamic urban regions. He assured full support from the state administration to investors.
Key Highlights
Proposed investment of USD 6.5 billion over the next two years
Development across approximately 5,000 acres
Expected generation of around 24,700 direct jobs
Projects to be implemented in the Mumbai Metropolitan Region and other selected locations in the state Major Components of the Project
Smart Residential Townships:
A large-scale, eco-friendly, integrated township over about 2,700 acres, designed for a population of nearly 200,000.
Electric Mobility:
Launch of large-scale electric taxi services and development of a Mobility-as-a-Service (MaaS) platform.
Social and Public Infrastructure:
International-standard schools through Vinschool
Multi-speciality hospitals via Vinmec
Statewide EV charging network through V-Green
(Spread across approximately 170 acres)
Renewable Energy:
A 500 MW solar power project over about 1,200 acres to boost clean energy generation.
Tourism Development:
Development of an international-standard theme park, zoo, and safari project over 865 acres to enhance tourism and create employment.
Senior officials including Additional Chief Secretary Lokesh Chandra, Chief Advisor Kaustubh Dhavse, and other dignitaries were present at the signing ceremony.
