New Delhi
The highest GDP state in the country is good news for Maharashtra. Blackstone, the world’s largest Alternative Asset Management Company, has planned to invest $ 11 billion in Maharashtra in the next three to five years. This amount will be invested in data centers, real estate and infrastructure assets in major cities of the state. The US institutional intelligence has made a comprehensive strategy to expand its presence in India’s fast growing property and digital infrastructure sector. Under this, the company has signed three separate agreements with the state government in Davos, Switzerland.
Maharashtra Chief Minister Devendra Fadnavis is leading the state delegation at the World Economic Forum this year. According to sources, around $ 5 billion of Blackstone’s total investment will go to Mumbai 3.0. Mumbai 3.0 is an important project of the state government. This will develop a third city to expand the capacity of Mumbai and Navi Mumbai. Mumbai 3.0 is also known as Karnala-Si-Cirner New Town. It will be established close to Mumbai. This will remove the shortage of space in Mumbai.
Where will invest
A source said that Blackstone would be the first global institutional investor to support the development of office complexes, hospitality properties, retail malls and warehousing properties in this new emerging city. Blackstone, along with its joint venture partner Panchsheel Realty, has entered into an agreement with the Maharashtra Industrial Development Corporation (MIDC) to invest up to $ 3 billion for the development of data centers in the state. It has also entered into an agreement with CIDCO of Maharashtra to invest an additional 3 billion for infrastructure properties including data centers in the Mumbai metropolitan region.
Blackstone is currently in the process of creating two data centers in Navi Mumbai and each of them has invested over 300 million dollars. These data centers, named Lumina Claudinfra, are also being developed in partnership with Panchsheel Realty. The new data center investment will be additionally. The company will invest more than $ 5 billion for the development of real estate assets in the Mumbai metropolitan region. In this way the company plans to invest $ 11 billion in Maharashtra. Blackstone refused to comment on this.
