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Maharashtra Chief Minister Devendra Fadnavis has announced that Vietnam-based Vingroup has committed to investing $8.5 billion in the state over the next two years.
The investment will span multiple sectors, including electric mobility, social and public infrastructure, tourism, entertainment, and renewable energy. The proposal, expected to generate nearly 24,700 employment opportunities, has been formalised through a memorandum of understanding (MoU) between Vingroup, the state industries department, and the Mumbai Metropolitan Region Development Authority.
The projects will primarily focus on the Mumbai and Raigad regions, covering around 5,000 acres. Of this, approximately 2,700 acres will be developed into large integrated smart townships designed as sustainable and environmentally friendly urban spaces.
In addition, Vingroup plans to introduce electric taxi services and a mobility-as-a-service platform, supporting the state’s push toward clean mobility.
The Chief Minister stated that the initiative will contribute to sustainable development, modern infrastructure, and advanced transport systems, while assuring full support from the state government for timely execution of the projects.
News by Rahul Yelligetti.
