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 Oreanda India to develop and operate 1,000- physical and social infrastructure properties. Did it Acre Smart City in Raigarh, close to the upcoming Navi Mumbai International Airport.
Under the agreement, which is a joint venture between the 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 Will provide for land and assistance in obtaining various permits and licenses.
Expected to attract significant foreign direct investment in Maharashtra, this joint venture will facilitate the creation of industrial clusters, warehousing and distribution centres, entertainment centres, data centers and information technology parks for IT/ITES/BPO/KPO services. In addition, a knowledge management system will also be developed that will share best operational practices, provide information on trends across multiple regional services, and assist 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 Aren, Managing Director and Country Head, Berkshire Hathaway HomeServices Oreanda India said, “Our partnership with the government will help create a conducive ecosystem for industrial development, residential establishments and industries to flourish. Navi Mumbai is playing an important role in Maharashtra’s success story and we are honored to support the government’s efforts to develop state-of-the-art facilities that will fuel the satellite city’s ambitions towards becoming a self-sustaining economy .
