Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) on Tuesday signed 12 memorandums of understanding (MoU) worth a cumulative $104.65 billion (around Rs 9.52 lakh crore) on Day 2 of the World Economic Forum (WEF) meeting in Davos. Key pacts include Brookfield’s $30-billion proposal for a logistics-and-industrial park at Kharbav–Bhiwandi and a Fintech-Insurtech hub at Wadala, and RMZ’s $25-billion plan for global business districts, data centres and mixed-use development across the Mumbai Metropolitan Region (MMR).The agreements were formalised in the presence of Maharashtra chief minister Devendra Fadnavis.MMRDA said the Day-2 package is aimed at moving beyond announcements to position the MMR as a “co-creation hub” combining capital with technology, research, healthcare and climate-resilient planning. The authority said the MoUs could generate around 9.5 lakh direct and indirect jobs.Fadnavis said the partnerships are meant for the “holistic development” of the entire MMR, not just Mumbai city, and reflect global confidence in Maharashtra’s ability to plan and deliver metropolitan-scale growth. Deputy chief minister and MMRDA chairman Eknath Shinde said the tie-ups are intended to translate into visible on-ground transformation and livelihood generation.Metropolitan commissioner Sanjay Mukherjee said global institutions were engaging as long-term collaborators, not merely investors, and cited names such as Brookfield, Arup, The Alan Turing Institute, TU Delft/AMS Institute and Surbana Jurong.Among the headline deals, MMRDA said Brookfield’s partnership is expected to create about 2.5 lakh jobs, with MMRDA facilitating land identification, trunk infrastructure and clearances, while Brookfield mobilises capital and undertakes master planning and asset management. RMZ (Millennia Realtors Pvt Ltd), in association with partners including Canada Pension Plan Investment Board and Mitsui Fudosan, proposed Grade-A office campuses for Global Capability Centres, data centres, residential precincts and logistics hubs over a 10-year horizon, also projecting around 2.5 lakh jobs.MMRDA also signed an MoU with the Indo-Italian Chamber of Commerce and Industry to build a 10-year investment pipeline of $15 billion, spanning industrial parks, logistics hubs, manufacturing, services and skill development, with an estimated 1.5 lakh jobs. A healthcare-focused partnership with Jupiter Wellness envisages a Medi City ecosystem covering tertiary care, medical education and research, while Shree Naman—with Tillman Global Holdings—proposed hyperscale data parks and integrated industrial-logistics-digital infrastructure.A separate push through Raigad Pen Growth Centre Ltd pegged at $4.65 billion includes MoUs with multiple global partners linked to the ‘Mumbai 3.0′ growth plan.MMRDA said knowledge and technical partnerships signed at Davos include AI and responsible governance work with The Alan Turing Institute, geotechnical and tunnelling resilience collaboration involving NGI and IIT-Bombay, master planning and climate-risk simulation support with Surbana Jurong, a metropolitan living-lab platform with TU Delft/AMS Institute, global outreach support with EDGE Community, and advisory for complex urban transformation with Arup.
