MMRDA signs 11 MoUs worth USD 40 billion at Davos

The Mumbai Metropolitan Region Development Authority MMRDA on Thursday said that it has secured USD 40 billion around Rs 35 lakh crore investment at the Davos 2025The MMRDA has signed 11 Memorandums of Understanding MoUs worth USD 40 billion around Rs 35 lakh crore at World Economic Forum WEF in Davos SwitzerlandThe achievement is expected to boost the infrastructure and economy of the Mumbai Metropolitan Region MMR in the coming yearsMaharashtra Chief Minister Devendra Fadnavis MMRDA Commissioner Dr Sanjay Mukherjee and other senior government officials were present when the MoUs were signed and it will help in urban transport regional development and cuttingedge technologies It is said that this will help in economic growth and enhanced quality of life in the region over the next 3ndash5 years said an official statementKey Highlights of the MoUs Crossrail International UK ndash Strategic study on optimizing Mumbairsquos transport infrastructure University of Birmingham Centre for Railway Research and Education UK ndash A study to achieve sustainable urban transport in MMR Brookfield Corporation Canada ndash USD 12 billion investment to support economic growth through FDI Foreign Direct Investment in urban regional and infrastructure development Blackstone Inc USA ndash USD 5 billion investment to drive urban and regional growth Temasek Capital Management Singapore ndash USD 5 billion investment for similar growthfocused projects Sumitomo Realty amp Development Japan ndash USD 5 billion investment in infrastructure development Hiranandani Group India Dubai ndash USD 6 billion investment to boost the economy K Raheja Corp Pvt Ltd India Singapore ndash USD 5 billion investment for regional and urban growth Everstone Group Singapore ndash USD 1 billion investment to support economic development Sotefin Bharat Pvt Ltd India Switzerland ndash USD 1 billion investment in transforming parking solutions in the region MTC Business Pvt Ltd Mitsui India Japan ndash Investment in developing a Circular Economy Park in MMRWhat leaders said on MMRDAs achievementsldquoThe World Economic Forum at Davos has opened a new chapter for MMR aligning with MMRrsquos vision of becoming a trillion dollor economy These partnerships will not only drive infrastructure growth but also foster job creation and economic sustainability for the region while celebrating golden jubilee of MMRDA itrsquos trulyrdquo celebration of Development CM Devendra Fadnavis saidDeputy Chief Minister and Chairman MMRDA Eknath Shinde said ldquoMMRDArsquos agreements at Davos reflect the confidence of global investors in Mumbairsquos growth potential These partnerships will not only bring financial investments but also worldclass expertise and technologies that will define MMRrsquos evolution as a global economic hub The initiative takes us closer to Maharashtrarsquos vision of becoming a USD 1 trillion economyMetropolitan Commissioner IAS Dr Sanjay Mukherjee said ldquoSecuring USD 40 billion at Davos marks a historic milestone for MMRDA These investments reaffirm our commitment to driving sustainable inclusive and transformative growth in the Mumbai Metropolitan Region setting new benchmarks in urban development and global collaboration These MoUs reflect the confidence of global investors in MMRrsquos potential to emerge as a global economic hub creating opportunities for millions and contributing to Indiarsquos growth storyrdquoThe MoUs are a part of goals outlined by NITI Aayog and the Government of MaharashtraMMRDA in its press statement stated that the targeted investments in infrastructure new growth centers and innovative projects like the Circular Economy Park the Mumbai Metropolitan Region will help achieve a USD 300 billion economy and create 3 million jobs by 2030As the New Town Development Authority NTDA for strategic areas Raigad districts MMRDA is coming up with initiatives across residential commercial and logistics sectors which will help in economic development of the region