Blackstone to invest Rs 5,127 crore in state; 27,510 jobs on cards
In a major boost to Maharashtra's industrial infrastructure, the state government on Tuesday signed a Memorandum of Understanding (MoU) with global investment firm Blackstone Group for the development of over 10 logistics and industrial parks across key locations in the state.
The deal, worth Rs 5,127 crore in foreign direct investment (FDI), is expected to create around 27,510 direct and indirect employment opportunities.
The MoU was signed between the state's principal secretary of Industries, Dr P Anbalagan, and R K Narayanan, president of Horizon Industrial Parks — a Blackstone entity — at Sahyadri Guest House in Mumbai. The ceremony was held in the presence of Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde.
Senior government officials including Principal Secretary to the CM Ashwini Bhide, MIDC CEO P Velarasu, and Blackstone's top leadership — including Tuhin Parikh, Alok Jain, and Ashish Agarwal — were also present.
According to officials, the parks will be developed on 794.2 acres of land, with a total built-up area of 1.85
crore sq ft. The facilities will come up in locations such as Nagpur, Bhiwandi, Chakan, Khandwa, Sinnar, and Panvel — regions that are fast emerging as strategic logistics and industrial corridors.
'These projects are aligned with the Maharashtra Logistics Policy 2024 and will focus on sustainable, tech-enabled infrastructure that boosts employment and economic growth,' the government said in a statement.
Speaking at the event, Fadnavis termed the agreement 'transformative' and said it would help create global-standard industrial and logistics hubs in Maharashtra. 'This initiative strengthens the backbone of India's manufacturing and supply chain ecosystem and reflects our commitment to making Maharashtra the preferred destination for investment,' he said.
The government added that the proposed parks will be environment-friendly and include digital infrastructure to improve efficiency and connectivity in the state's logistics sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
19 minutes ago
- Time of India
Haryana charts green path: Markets with organic produce soon
Gurgaon: The city, along with Hisar, will soon have a dedicated organic produce market. The new initiative will see the city hosting a specialised market focusing on organically produced staples, including wheat, rice and pulses. Hisar will feature a dedicated market for organic fruits and vegetables, creating a comprehensive ecosystem for natural and organic produce in the state. A key highlight of the announcement includes financial assistance of Rs 20,000 per farmer for branding and packaging of natural farming products. The govt will also establish testing laboratories offering free services to farmers to ensure quality control of organic produce. The move aims to encourage more farmers to adopt organic farming methods. The announcement, aimed at promoting sustainable agriculture, came during a World Environment Day programme on Thursday, even as Haryana chief minister Nayab Singh Saini spoke about the state govt's "commitment to eco-friendly farming practices". Saini said, "To ensure fair pricing, a dedicated committee will be formed under the Haryana Farmers' Welfare Authority to determine the rates for natural and organic produce." The scheme is expected to provide organic farmers with direct access to consumers and create a structured marketplace for chemical-free agricultural products. A senior govt official said, "The establishment of these specialised markets is part of govt's broader vision of promoting sustainable agricultural practices and addressing growing consumer demand for organic products." The govt has also introduced measures to support landless farmers. In Kaithal district's Pundri block, 53 acres of agricultural department land will be leased through auction to farmers practising natural farming. Additionally, each village will reserve 10% of panchayat land (or a minimum of one acre) exclusively for natural farming by landless farmers. The govt will also provide financial incentives, including Rs 3,000 per farmer for purchasing storage equipment and a substantial subsidy of Rs 30,000 for native cow purchase, supporting the natural farming ecosystem.
Time of India
20 minutes ago
- Time of India
MP positions itself as hub for wellness & spiritual tourism
Ujjain: Riding on the spiritual appeal of the Mahakaleshwar Jyotirlinga—visited daily by nearly 1 lakh devotees, Madhya Pradesh is stepping up efforts to position itself as a hub for wellness and spiritual tourism, with Ujjain as the focal point of investor interest. Tired of too many ads? go ad free now State govt showcased land banks, polices and investment opportunities in the state to investors. Leading stakeholders held one-on-one discussions with chief minister Mohan Yadav, exploring opportunities worth thousands of crores in tourism and wellness infrastructure at the Wellness and Spiritual Conclave held on Thursday. Highlighting growing interest from national hospitality chains, Mukund Prasad, director at Leisure Hotels Group, said the company is actively expanding into Madhya Pradesh after acquiring land parcels in Kanha and Pench. The group is now exploring Ujjain and Omkareshwar for spiritual and wellness tourism projects. "The state policies are highly supportive and officials are responsive to the needs of promoters. The govt is encouraging investors to combine luxury tourism with wellness, and the group is planning to invest around Rs 200 crore, as wellness development heavily depends on quality infrastructure," said Prasad. Spiritual institutions too have shown keen interest in MP's sacred landscape. Swami Chaitanya Hari, founder of Yoga Nisarga and Vedic Yoga School, said his group is exploring tranquil locations along the Narmada Parikrama and Kshipra river regions to establish wellness centres and ashrams. "These areas offer a spiritually rich and naturally serene environment, ideally suited for holistic healing and yoga-based practices," said Hari. Apart from infrastructure, investors also emphasised the importance of rooting wellness in local culture and resources. Tired of too many ads? go ad free now Shubham Agnihotri, vice chairman of the Taiwan India Ayurveda Association, stressed that Madhya Pradesh's wealth of herbs, tribal wisdom, and nutrition-based biodiversity should be integral to the wellness ecosystem. "Local farmers must be included in the supply chain for sourcing food and herbs, ensuring that wellness tourism is both sustainable and authentic," said Agnihotri. The influx of spiritual tourism has also triggered large-scale interest from the real estate and hotel sector. CREDAI Ujjain president Mahesh Paryani said demand for hospitality infrastructure is growing rapidly. "Around ten major hotel chains have already tied up for projects in the city and are expected to begin operations by the next financial year. These hotels are expected to invest over Rs 3,000 crore," he said.
&w=3840&q=100)
Business Standard
25 minutes ago
- Business Standard
Jaiprakash Associates bids: Jindal Power, Adani Ent, Dalmia in fray
The provisional list of prospective resolution applicants included 26 entities who had submitted their expression of interest in the corporate insolvency resolution process of JAL premium Delhi Listen to This Article Bidders including Adani Enterprises, Jindal Power, Dalmia Cement are likely to submit their resolution plans for beleaguered Jaiprakash Associates Limited (JAL), according to people close to the development. The total claims of creditors in Jaiprakash Associates, currently undergoing a corporate insolvency resolution process amount to over Rs 59,000 crore. The last date of submitting the resolution plan is June 9. The Committee of Creditors of JAL is expected to meet on Friday to discuss whether they should agree to extend the last date for submitting resolution plans, as requested by some of the bidders, sources said. The provisional list of
