Vietnamese conglomerate Vingroup has committed to investing $8.5 billion (around Rs 71,000 crore) in Maharashtra over the next two years, marking one of the largest foreign direct investment (FDI) commitments in the state in recent years.
The announcement was made by Devendra Fadnavis, following the signing of a memorandum of understanding (MoU) between Vingroup, the state industries department, and the Mumbai Metropolitan Region Development Authority.
The proposed investment will be deployed across nearly 5,000 acres in the Mumbai Metropolitan Region and other parts of the state, spanning sectors such as electric mobility, renewable energy, tourism, and urban infrastructure.
A significant portion of the investment will go into developing large-scale, integrated smart townships spread over around 2,700 acres. These eco-friendly residential hubs are expected to accommodate nearly 2 lakh residents and form the backbone of a broader urban ecosystem strategy.
Vingroup’s plans include launching large-scale electric taxi services and building a mobility-as-a-service (MaaS) platform to accelerate electric mobility adoption in the state.
On the infrastructure front, the company aims to establish international-standard schools and multi-speciality hospitals, alongside a statewide EV charging network.In renewable energy, Vingroup has proposed a 500 MW solar power project, reinforcing the state’s push toward clean energy transition.
Additionally, the investment will extend to tourism infrastructure, including the development of a theme park, zoo, and safari project, aimed at boosting regional tourism and economic activity. The projects are expected to generate nearly 24,700 direct jobs, providing a significant boost to employment and regional development.
