Mumbai

Maharashtra Chief Minister Devendra Fadnavis on Wednesday announced that Vietnam-based conglomerate Vingroup has committed to investing $8.5 billion in the state over the next two years across multiple sectors, including electric mobility, infrastructure, tourism, and renewable energy.

According to an official statement, the proposed projects are expected to generate nearly 24,700 jobs. A memorandum of understanding (MoU) formalising the investment was signed between Vingroup, the state industries department, and the Mumbai Metropolitan Region Development Authority in the presence of the chief minister.

Fadnavis said the investment aligns with Maharashtra’s push for sustainable development and modern infrastructure. He noted that regions such as Mumbai and Raigad are poised to emerge as globally competitive urban hubs through such initiatives.

The projects, spread across nearly 5,000 acres, will be developed in the Mumbai Metropolitan Region and other selected locations in the state. Key focus areas include smart residential townships, electric mobility solutions, social and public infrastructure, renewable energy, as well as tourism and entertainment.

A major component of the plan involves the development of large, integrated smart townships over about 2,700 acres, designed to accommodate a population of around 2 lakh people with an emphasis on environmentally sustainable living.

In the transport sector, Vingroup has proposed large-scale deployment of electric taxis along with a mobility-as-a-service platform to strengthen the adoption of electric vehicles.

The company also plans to invest in social infrastructure by establishing international-standard schools under its Vinschool brand and multi-speciality hospitals under Vinmec. Additionally, an electric vehicle charging network is proposed to be developed across the state through V-Green.

As part of its renewable energy push, Vingroup aims to set up a 500 MW solar power project over nearly 1,200 acres.

To boost tourism, the company has proposed projects such as a world-class theme park, zoo, and safari spread over about 865 acres, which are expected to enhance visitor attraction and generate employment in the region.

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Fadnavis assured the state government’s full support for the projects and encouraged the company to directly coordinate with authorities to resolve any implementation challenges.