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The Raigad Pen Smart City near Mumbai has attracted investments over ₹1 lakh crore, Maharashtra Chief Minister Devendra Fadnavis said on Thursday, January 22.
In an interview with CNBC-TV18 on the sidelines of the World Economic Forum (WEF) Summit in Switzerland's Davos, Fadnavis said that the government has signed MoUs with with global investors from USA, UAE, Singapore, Australia and The Netherlands, among others, to establish the smart city.
For this, the land has been identified and all the permissions have been taken and has been made open to investors, he further said, adding that "investors from USA, UAE, Singapore, Australia, The Netherlands have collectively invested over ₹1 lakh crore in the project" as of yet, and will be operationalised soon.
Apart from this, the Maharashtra CM said that the Innovation city near Navi Mumbai Airport will be India's innovation ecosystem for the world, outlining that it will host different innovators, and could see several AI and innovation hubs in the city.
Tata Sons has pledged $11 billion dollars for its development.
Read more: Fadnavis announces 'Innovation City' near Mumbai with Tata Sons $11 billion investment
Mumbai overarching circular economy
The Maharashtra CM also said that pollution is an area of concern in India, adding that the government is planning an overarching circular economy for Mumbai, which will allow the municipal corporation and private investors to convert waste into wealth.
"This will take care of air and water quality," he remarked, further elaborating that waste across various sectors such as electronics, building, medical, among others will be taken care of.
The Mumbai circular economy initiative will be done in such a manner that it becomes a model for the country, Fadnavis said, adding that it has been designed with Tata Sons and now it is open for other private players. It will ve spearheaded by the municipal corporation.
As part of the project, the government plans to treat all the legacy waste including the Deonar landfill site. "The entire land will be reclaimed through biomining and it will be given for housing," Fadnavis said, pointing out that the government has executed a similar feat in Nagpur.
Timelines for the projects
Addressing the time period for the completion of these projects, Fadnavis said that all these projects are generational projects which will take a longer period of time of about seven to nine years. "But you will see meaningful work done which is visible in next one year," he remarked.
India is safe haven for investors
The politician further said that there is no hesitation among the global investors for India. "People feel that India is a very stable partner, has strong government, stable policies, and is welcoming due to the ecosystem and buzz that our Prime Minister has created about India," he added.
Investors from the countries with which we have issues on trade are also coming big time. They understand that India is a stable country and has strong leadership which has the capability to bring the world along so they think that investing in India is very safe, he said.
In an interview with CNBC-TV18 on the sidelines of the World Economic Forum (WEF) Summit in Switzerland's Davos, Fadnavis said that the government has signed MoUs with with global investors from USA, UAE, Singapore, Australia and The Netherlands, among others, to establish the smart city.
For this, the land has been identified and all the permissions have been taken and has been made open to investors, he further said, adding that "investors from USA, UAE, Singapore, Australia, The Netherlands have collectively invested over ₹1 lakh crore in the project" as of yet, and will be operationalised soon.
Apart from this, the Maharashtra CM said that the Innovation city near Navi Mumbai Airport will be India's innovation ecosystem for the world, outlining that it will host different innovators, and could see several AI and innovation hubs in the city.
Tata Sons has pledged $11 billion dollars for its development.
Read more: Fadnavis announces 'Innovation City' near Mumbai with Tata Sons $11 billion investment
Mumbai overarching circular economy
The Maharashtra CM also said that pollution is an area of concern in India, adding that the government is planning an overarching circular economy for Mumbai, which will allow the municipal corporation and private investors to convert waste into wealth.
"This will take care of air and water quality," he remarked, further elaborating that waste across various sectors such as electronics, building, medical, among others will be taken care of.
The Mumbai circular economy initiative will be done in such a manner that it becomes a model for the country, Fadnavis said, adding that it has been designed with Tata Sons and now it is open for other private players. It will ve spearheaded by the municipal corporation.
As part of the project, the government plans to treat all the legacy waste including the Deonar landfill site. "The entire land will be reclaimed through biomining and it will be given for housing," Fadnavis said, pointing out that the government has executed a similar feat in Nagpur.
Timelines for the projects
Addressing the time period for the completion of these projects, Fadnavis said that all these projects are generational projects which will take a longer period of time of about seven to nine years. "But you will see meaningful work done which is visible in next one year," he remarked.
India is safe haven for investors
The politician further said that there is no hesitation among the global investors for India. "People feel that India is a very stable partner, has strong government, stable policies, and is welcoming due to the ecosystem and buzz that our Prime Minister has created about India," he added.
Investors from the countries with which we have issues on trade are also coming big time. They understand that India is a stable country and has strong leadership which has the capability to bring the world along so they think that investing in India is very safe, he said.
