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| Edited By: |Source: PTI |Updated: Sep 14, 2017, 04:32 PM IST
MUMBAI: Maharashtra Government has signed an MoU with US-based Vornado Realty Trust to develop an integrated township to promote 'walk to work culture' for software professionals working in Information Technology (IT) parks.
The MoU was signed at New York yesterday between Vornado Hinjewadi Township Pvt Ltd and the Maharashtra Industrial Development Corporation (MIDC) in presence of Chief Minister Vilasrao Deshmukh, who is on a 10-day US visit to attract foreign investment, an official in the CM's Secretariat told on Tuesday.
The MoU was signed by MIDC CEO Rajiv Jalota and Vornado Realty Trust, USA, President Michael Fascitelli, he said.
The agreement paves way for an investment of around USD 200 million over a period of five years at Hinjewadi near Pune for development of the integrated township, he said.
Vornado is famous for creating world class infrastructure and is credited with creating the globally renowned Crystal City in Washington DC and the Bloomberg Towers at New York.
It is the third largest real estate investment trust in USA, the official added.
Industries Minister Ashok Chavan, Chief Secretary, Johnny Joseph, Principal Secretary to CM Umesh Chandra Sarangi, Principal Secretary (Industries) V K Jairath and Nikhil Gera, Vice President of Vornado Realty Trust were present on the occasion.
