Maharashtra gets Major Economic Boost as CIDCO Signs Landmark MoUs at World Economic Forum, DAVOS
Historic International Educity Launches in Navi Mumbai, Set to Revolutionize Education
Navi Mumbai, Maharashtra, Feb 11, 2025 - (ACN Newswire) - In a ground-breaking move, CIDCO has signed four landmark Memorandum of Understanding (MoUs) at the World Economic Forum in Davos, Switzerland, under the visionary leadership of Hon'ble CM, Shri. Devendra Fadnavis, and guidance of the Honourable Deputy Chief Minister & Urban Development Minister, Shri. Eknath Shinde, giving a major boost to Maharashtra's economy. Shri. Vijay Singhal, IAS, Vice Chairman & Managing Director, CIDCO, played a pivotal role in facilitating these partnerships.
CIDCO signs four landmark MoUs at WEF 2025, Davos, under the leadership of CM Devendra Fadnavis, Dy CM & Urban Dev. Minister Eknath Shinde, and the pivotal role played by Shri. Vijay Singhal, IAS, VC & MD, CIDCO (Source: CMO Maharashtra Facebook)
Two of these significant MoUs were signed with Eruditus and BookMyShow, creating history in the development of Navi Mumbai. The MoU with Erulearning Solutions Private Limited (Eruditus) is signed for a proposed investment of $2.4 to $3 billion over 10 years, creating 20,000 direct employment opportunities. Meanwhile, the MoU with BookMyShow involves an investment of $204 million to develop an outdoor entertainment arena in Maharashtra, creating 500 job opportunities in the state.
Global Education Hub: Navi Mumbai's International Educity to Attract Students and Faculty from Worldwide
CIDCO has launched the first-ever International Educity in Navi Mumbai, bringing together 8-10 esteemed foreign universities from around the world. CIDCO played a pivotal role in making this initiative a global benchmark. The International Educity in Navi Mumbai is poised to become a global learning hub, offering students from around the world the opportunity to learn from renowned international faculty.
For its commitment to creating a world-class educational hub, CIDCO has identified a prime location for this project, situated within a 5 km radius of the forthcoming Navi Mumbai International Airport. This ambitious initiative aims to create a vibrant academic community, fostering cross-cultural exchange and collaboration among students and educators from diverse backgrounds.
With its focus on innovation, accessibility, and community engagement, this Educity is set to redefine the education landscape in India. In a pioneering initiative, Navi Mumbai will become home to India's first-ever international university campus, featuring 8-10 foreign universities. This project will not only give a new identity to the city but also will help in exponential development of Navi Mumbai.
Navi Mumbai Emerges as India's Ultimate Outdoor Entertainment Arena!
CIDCO has unveiled plans to develop a state-of-the-art Outdoor Entertainment Arena in Navi Mumbai, modeled after iconic venues like Madison Square Garden in New York and The O2 Arena in London. This ambitious project aims to create a unique and unparalleled entertainment experience, setting a new benchmark for the industry.
The proposed venue will host a wide range of events, including concerts, sports, theatre productions, and more, catering to diverse audiences and tastes. To bring this vision to life, CIDCO has partnered with BookMyShow, combining the expertise of two industry leaders to ensure world-class standards and attention to detail.
Located in close proximity to Bollywood, this state-of-the-art outdoor entertainment arena will have a massive capacity of 20,000 seated or 25,000 standing, making it the largest and first-of-its-kind in the country. This iconic venue will become the epicenter of entertainment, hosting concerts, award shows, sports tournaments, and more throughout the year.
Maharashtra’s Economic Growth Strengthened by Two Additional MoUs
These landmark agreements are expected to propel Maharashtra's economy forward, driving growth, employment, and opportunities for generations to come. With CIDCO's commitment to innovative and sustainable development, Maharashtra is poised to become a hub for business, entertainment, and education.
In a significant development, CIDCO has signed two additional MoUs, further bolstering Maharashtra's economy:
Panchshil Realty: A proposed investment of $3 billion to set up a state-of-the-art data center in the CIDCO area. This project will enhance Maharashtra's digital infrastructure and create new avenues for businesses and entrepreneurs.
Welspun World: A proposed investment of $183 million in a logistics park, creating 2,000 direct employment opportunities.
With these two MoUs, CIDCO has reaffirmed its commitment to fostering economic growth, innovation, and job creation in Maharashtra. These MoUs will drive progress and prosperity for years to come.
These investments are a testament to Maharashtra's growing reputation as a premier investment hub. The International Educity will feature a diverse range of universities, each specializing in various fields, thereby propelling the education industry forward and enhancing the value of education in national development.
Located near Navi Mumbai International Airport, this International Educity will enjoy proximity to key infrastructure, including Aerocity, Sports City, Medicity, Jawaharlal Nehru Port Trust, and proposed transport corridors.
As the country's first-of-its-kind, this International Educity will serve as a model for future educational hubs, driving growth, employment, and opportunities for generations to come.
For more details, contact: Priya Uttam Ratambe PRO-CIDCO +91 73875 55907 sr.pro@cidcoindia.com
