During his visit to the five-day World Economic Forum 2023, in Davos, Switzerland, Maharashtra chief minister Eknath Shinde signed a Memorandum of Understanding (MoU) with Berkshire Hathaway HomeServices Orenda India to develop and operate physical and social infrastructure assets on the 1,000-acre smart city in Raigad, close to the upcoming Navi Mumbai international airport.
Under this agreement, which is a joint venture between Mumbai Metropolitan Region Development Authority (MMRDA) on behalf of the Maharashtra government, the firm will be responsible for developing a complete ecosystem for industrial, commercial and residential development, while the Maharashtra government will provide access to land and assistance in obtaining various permits and licenses.
Expected to attract significant foreign direct investment in Maharashtra, this JV will facilitate the creation of industrial clusters, warehousing and distribution hubs, entertainment hubs, data centres, and information technology parks for IT/ITES/BPO/KPO services. Apart from this, a knowledge management system will also be developed that will share best operational practices, offer information on trends in multiple sectoral services, and provide assistance in organizing promotional conferences and roadshows. The firm will also be responsible for leveraging its network and attracting business service delegations to invest in the project.
Shrey Aeren, managing director and country head, Berkshire Hathaway HomeServices Orenda India, said, “Our partnership with the Government will help create a conducive ecosystem for industrial development, residential establishments, and industries to prosper. Navi Mumbai is becoming a key cog in Maharashtra’s success story and we are honoured to support the Government’s efforts to develop state-of-the-art facilities that will provide a boost to the satellite city’s ambitions towards becoming a self-reliant economy.”
