Nagpur, Feb 7 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Friday said out of more than Rs 15 lakh crore worth of investment proposals for the state signed at the World Economic Forum in Davos last month, memoranda of understanding (MoUs) worth Rs 5 lakh crore were for Vidarbha alone.

Speaking at the 'Advantage Vidarbha' conclave, Fadnavis rubbished allegations that often MoUs do not result in actual investments, claiming the actual investment percentage in Maharashtra is 75 per cent to 90 per cent.

He said of more than Rs 15 lakh crore worth of MoUs inked at Davos, investments of Rs 5 lakh crore were for Vidarbha alone, including Rs 3 lakh crore by JSW Group, and the remaining Rs 2 lakh crore by Kalyani Group, CEAT, Vardhaan, EEL, Vaari and other corporates, in various sectors, including emerging technologies.

The chief minister said a good ecosystem will come up in Gadchiroli with JSW Group's investment.

Participating in the conclave, chairman of JSW Group, Sajjan Jindal, announced the investment of Rs 1 lakh crore in the next seven to eight years for a 25 million tonne steel plant in Gadchiroli.

Fadnavis said in the next two to three years, an airport will also come up in Gadchiroli, and the land acquisition process for the project was underway.

Listing the other projects in Vidarbha, a region in eastern Maharashtra comprising 11 districts, Fadnavis said an electric bus manufacturing plant will come up in Butibori in Nagpur, while a coal gasification plant will be set up in Chandrapur.

He said development and investment were spreading across the state.

Fadnavis said the Navi Mumbai airport is expected to begin operations by April-end, and the Vadhavan port in Palghar district will be connected to the Mumbai-Nagpur Samruddhi Expressway in Nashik.

Addressing the gathering, Union Minister Nitin Gadkari said Gadchiroli will become the steel hub of India in the next five years.

He said Vidarbha will have a lion's share in the USD 5 trillion economy dream of Prime Minister Narendra Modi.

Gadkari further highlighted that these initiatives will create 3 lakh employment opportunities in Vidarbha in the next four years.

He urged the chief minister to utilise irrigation projects in Vidarbha and pitched for increasing irrigation potential from 22 per cent to 32 per cent.

Maharashtra Industries Minister Uday Samant countered the opposition's criticism about MoUs signed in Davos being merely announcements and cited JSW Group's investment of Rs 1 lakh crore for a steel plant in Gadchiroli district. PTI CLS ARU

Investment commitments for regional development accelerate infrastructure projects and land acquisition plans with projected employment gains. Investment commitments announced at the World Economic Forum concentrate on Vidarbha, supporting planned steel and manufacturing projects, coal gasification and other emerging-technology investments. A major steel plant proposal in Gadchiroli carries a multi year timetable with land acquisition and ancillary infrastructure, including a regional airport, described as underway. Complementary initiatives include an electric bus plant, port-expressway connectivity and an expansion of irrigation potential tied to projected employment gains and regional economic integration.