Maharashtra govt, auto major M&M sign MoU for Rs 15,000 crore greenfield project in Nagpur

Nagpur, Feb 6 (PTI) The Maharashtra government and auto major Mahindra & Mahindra on Friday signed an MoU under which the company will set up a greenfield project in Nagpur to manufacture cars, sports utility vehicles (SUVs) and tractors with an investment of Rs 15,000 crore.

The Memorandum of Understanding (MoU) was signed at the inauguration of Advantage Vidarbha, a three-day business conclave and investment summit here, in the presence of Union minister Nitin Gadkari and state Chief Minister Devendra Fadnavis. Gadkari is the chief mentor of Advantage Vidarbha.

Addressing a gathering at the inauguration, Fadnavis said, "Some very important MoUs were signed today, including the one with Mahindra & Mahindra.

It is for the first time that investment in the automotive sector is coming to Vidarbha. Mahindra & Mahindra will start a very advanced next-generation SUV and car factory, he said.

"It will be an integrated factory, which will manufacture EV cars, next-gen cars and tractors," the CM said.

The company is also investing in Nashik and Chhatrapati Sambhajinagar, which will create huge opportunities, Fadnavis added.

The chief minister said the state government also signed an MoU with Super Smelters Limited, which will invest Rs 10,000 crore to set up a steel factory in Gadchiroli district.

Speaking on the occasion, Mahindra & Mahindra's Executive Director and CEO (Auto and Farm Sector) Rajesh Jejurikar said the new greenfield project, which will be a state-of-the-art plant in Nagpur, will be set up with an investment of Rs 15,000 crore over the next ten years.

The new facility will be for all automotive products and tractors. The company plans to take up about 1,500 acres of land for this plant, he said.

The company will also set up a supplier park in Chhatrapati Sambhajinagar over an area of 150 acres, Jejurikar said.

It will also carry out a major expansion on a 300-acre site at Igatpuri in Nashik district, according to him.

The company has experienced people and gets support from the state government, Jejurikar said. PTI CLS NP MR