MUMBAI: In a landmark achievement during its golden jubilee celebrations, the Mumbai Metropolitan Region Development Authority (MMRDA) has signed 11 pivotal memorandums of understanding (MoUs) worth USD 40 billion (₹3.5 lakh crore) at the just concluded World Economic Forum (WEF) in Davos, Switzerland.
This accomplishment, realized under the leadership of Chief Minister Devendra Fadnavis, under the chairmanship of Deputy Chief Minister Eknath Shinde, and in the presence of Metropolitan Commissioner Dr Sanjay Mukherjee, is set to revolutionize infrastructure development across the Mumbai Metropolitan Region (MMR).
These investments, spanning urban transport, regional development, and cutting-edge technologies, will serve as a cornerstone for economic growth and enhanced quality of life in the region over the next 3–5 years.
Marking its golden jubilee, MMRDA celebrated 50 years of transformative growth both locally and globally. At the World Economic Forum in Davos, Chief Minister Devendra Fadnavis congratulated MMRDA, while Deputy Chief Minister and MMRDA Chairman Eknath Shinde commended its contributions during a celebration in Mumbai. Securing USD 40 billion in investments on this momentous occasion showcased MMRDA’s international stature and its commitment to driving growth and innovation in the Mumbai Metropolitan Region.
Key MoU Highlights
Crossrail International (UK) + Department For Transport, UK
Development and Optimization of Transport Infrastructure in Mumbai Metropolitan Region
Total Investment: Strategic Study
University of Birmingham Centre for Railway Research and Education, UK
Achieving Sustainable Urban Transport in the Mumbai Metropolitan Region (MMR)
Total Investment: Strategic Study
Brookfield Corporation (Canada)
Driving Economic Growth in MMR through FDI in Urban, Regional and Infrastructure Development
Total Investment: USD 12 billion
Blackstone Inc. (USA)
Driving Economic Growth in MMR through FDI in Urban, Regional and Infrastructure Development
Total Investment: USD 5 billion
Temasek Capital Management Pte. Ltd (Singapore)
Driving Economic Growth in MMR through FDI in Urban, Regional and Infrastructure Development.
Total Investment: USD 5 billion
Sumitomo Realty & Development Co. Ltd (Japan)
Driving Economic Growth in MMR through FDI in Urban, Regional and Infrastructure Development.
Total Investment: USD 5 billion
Hiranandani Group (India + Dubai)
Driving Economic Growth in MMR through FDI in Urban, Regional and Infrastructure Development
Total Investment: USD 6 billion
K Raheja Corp Pvt Ltd (India + Singapore)
Driving Economic Growth in MMR through FDI in Urban, Regional and Infrastructure Development
Total Investment: USD 5 billion
Everstone Group (Singapore)
Driving Economic Growth in MMR through FDI in Urban, Regional and Infrastructure Development
Total Investment: USD 1 billion
Sotefin Bharat Pvt Ltd (India + Switzerland)
Driving Economic Growth in MMR through FDI in Areas of Transforming The Parking Solutions in the MMR
Total Investment: USD 1 billion
MTC Business Private Limited + Mitsui (India + Japan)
Development of the Circular Economy Park in Mumbai Metropolitan Region
Total Investment: Circular Economy
MMRDA’s ability to attract such significant investments underscores its position as a global gateway for investors. With a robust infrastructure network, including an international airport, world-class transport systems, and emerging hubs for logistics and data centers, the Mumbai Metropolitan Region offers unparalleled potential for growth and innovation, according to the Authority officials.
“The World Economic Forum at Davos has opened a new chapter for MMR, aligning with MMR’s 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, it’s a truly celebration of development,” said Chief Minister Devendra Fadnavis.
Deputy Chief Minister & Chairman MMRDA Shri Eknath Shinde applauded the achievement and its significance for Maharashtra’s economic aspirations: “MMRDA’s agreements at Davos reflect the confidence of global investors in Mumbai’s growth potential. These partnerships will not only bring financial investments but also world-class expertise and technologies that will define MMR’s evolution as a global economic hub. This initiative takes us closer to Maharashtra’s vision of becoming a USD 1 trillion economy.”
Metropolitan Commissioner Dr Sanjay Mukherjee, said, “Securing 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 MMR’s potential to emerge as a global economic hub, creating opportunities for millions and contributing to India’s growth story.”
The MoUs are part of MMRDA’s broader vision to align with the goals outlined by NITI Aayog and the Government of Maharashtra. With targeted investments in infrastructure, new growth centers, and innovative projects like the Circular Economy Park, the Mumbai Metropolitan Region is on track to achieve a USD 300 billion economy and create 3 million jobs by 2030, the officials said.
As the New Town Development Authority (NTDA) for strategic areas Raigad districts MMRDA is spearheading initiatives across residential, commercial, and logistics sectors, contributing significantly to Maharashtra’s ambition of becoming a USD 1 trillion economy and strengthening India’s USD 5 trillion economic goal.
These achievements symbolize MMRDA’s golden jubilee celebration and its continued role as a cornerstone of Maharashtra’s economic development, fostering a legacy of sustainable growth and innovation, they added.
