Mumbai, April 8, 2026: Vietnam-based conglomerate Vingroup has announced an investment of approximately $8.5 billion in Maharashtra, focusing on sustainable urban development, industrial and tourism growth, renewable energy, and electric mobility.
The company signed a Memorandum of Understanding (MoU) with the state’s Industries Department and the Mumbai Metropolitan Region Development Authority in the presence of Chief Minister Devendra Fadnavis.
Speaking on the occasion, Fadnavis expressed confidence that the investment would accelerate sustainable development, boost green energy adoption, and strengthen modern infrastructure and mobility systems across the state. He described Vingroup’s entry into Maharashtra as both “timely and prestigious,” noting that the Mumbai and Raigad regions are poised to emerge as globally competitive and dynamic urban hubs.
The agreement was signed at the Chief Minister’s official residence ‘Varsha’ by MMRDA Metropolitan Commissioner Dr. Sanjay Mukherjee, Industries Department Principal Secretary P. Anbalagan, and Vingroup Asia Operations CEO Pham Sanh Chau.
Fadnavis assured full support from the state government, encouraging investors to directly engage with authorities in case of any challenges. He added that the state administration has demonstrated its ability to resolve issues efficiently based on past experience.
### Multi-Sector Projects Across Maharashtra
Under the agreement, Vingroup plans to invest the full amount over the next two years, developing projects across approximately 5,000 acres of land. The initiative is expected to generate around 24,700 direct jobs.
Projects will be implemented across the Mumbai Metropolitan Region and other selected locations in the state, spanning smart residential townships, electric mobility solutions, public infrastructure, renewable energy, tourism, and entertainment.
A major component includes the development of a world-class, eco-friendly integrated township over nearly 2,700 acres, designed to accommodate a population of around 200,000.
In the mobility sector, the company plans to introduce large-scale electric taxi services and develop a Mobility-as-a-Service platform to support Maharashtra’s transition to sustainable transport.
### Focus on Infrastructure, Energy and Tourism
Vingroup also plans to establish international-standard schools through VinSchool, multi-speciality hospitals via Vinmec, and an extensive electric vehicle charging network through V-Green, covering about 170 acres.
Additionally, a 500 MW solar power project will be developed over approximately 1,200 acres to boost clean energy generation.
To promote tourism, the company intends to build a large-scale international theme park, zoo, and safari project over 865 acres, aimed at enhancing the state’s tourism appeal and generating significant employment opportunities.
Senior officials and representatives from both the Maharashtra government and Vingroup, along with Vietnam’s Consul General, were present at the signing ceremony.
