Maharashtra govt inks pact with Blackstone Group for Rs 5,127 cr FDI; to create over 27,500 jobs

The Maharashtra government on Wednesday signed a Memorandum of Understanding (MoU) with Blackstone Group's subsidiaries, XSIIO Logistics Parks and Horizon Industrial Parks, which will bring Rs 5,127 crore FDI and create 27,510 jobs, officials said.

The MoU was signed at the Sahyadri Guest House between Industries Secretary Dr P Anbalagan and president of Horizon Industrial Parks R K Narayanan. This MoU aims to develop modern logistics and industrial parks across Maharashtra's key industrial and multimodal logistics hubs, a statement from the Chief Minister's Office (CMO) said.

As per the agreement, over 10 modern industrial and logistics parks will be developed on 794.2 acres of land, with construction planned on 1.85 cr square feet land. The projects are expected to bring in foreign direct investment (FDI) of Rs 5,127 crore and will generate approximately 27,510 direct and indirect employment opportunities, it said.

These logistics parks will be developed in key locations, including Nagpur, Bhiwandi (Thane district), Chakan (Pune), Sinnar (Nashik) and Panvel (Raigad). The parks will be aligned with the Maharashtra Logistics Policy 2024, and will feature green, digitally-enabled infrastructure focused on sustainable development and job creation.

Calling it a transformative partnership, Chief Minister Devendra Fadnavis said, "This collaboration is a step toward developing world-class, environmental-social-and-governance (ESG)-compliant industrial and logistics hubs in cities like Nagpur, Mumbai and Pune. It will establish a robust foundation for manufacturing, warehousing and supply chain excellence in India."

Deputy Chief Minister Eknath Shinde, CM's Principal Secretary Ashwini Bhide, Maharashtra Industrial Development Corporation (MIDC) CEO P Velarasu, Deputy Secretary Lakshmikant Dhoke, Senior Managing Director of Blackstone Advisors Pvt Ltd Tuhin Parikh, Managing Director of Blackstone Advisors Pvt Ltd Alok Jain, and Managing Director of XSIIO Logistics Parks Ashish Agarwal were present on the occasion.