Daijiworld Media Network - Mumbai

Mumbai, Apr 10: Vietnam-based Vingroup has entered into a Memorandum of Understanding with the Government of Maharashtra to explore multi-sector investments worth around $6.5 billion, strengthening its business footprint in India.

The agreement, signed in coordination with the Mumbai Metropolitan Region Development Authority (MMRDA), focuses on projects across the Mumbai Metropolitan Region, covering urban infrastructure, electric mobility, renewable energy and public services.

As part of the plan, the group will explore large integrated townships over nearly 1,000 hectares with an estimated investment of $5 billion, aimed at creating new urban growth hubs around Mumbai.

In the mobility segment, Vingroup proposes deploying around 60,000 electric vehicles through a mobility-as-a-service platform, backed by an investment of about $1.5 billion, which is expected to generate significant employment and promote green transport.

The company will also assess renewable energy opportunities and expand into sectors such as healthcare, education, and tourism through its subsidiaries, aligning with India’s long-term sustainability goals.

Chief Minister Devendra Fadnavis said the investment would enhance infrastructure, create jobs and accelerate sustainable development, while reinforcing Maharashtra’s position as a key economic hub.

The move marks a significant step in Vingroup’s broader India strategy, following similar partnerships in Telangana and Tamil Nadu, as it seeks to build an integrated multi-sector ecosystem in the country.