India Development News & Foreign Investment Opportunities

Singapore-Maharashtra to work on Pune developments


Surbana Jurong to do Pune masterplan

Singapore and Maharashtra has agreed to jointly work on the masterplan and undertake urban infrastructure developments in the Pune Metropolitan Region (PMR) and collaborate in the development of the Pune Airport.

A series of agreements were signed by the two partners including the appointment of Surbana Jurong as the PMR master planner, said Singapore’s Ministry of Trade and Industry in a statement on 16 May 2018.

Surbana Jurong will start work on a four-phase masterplan to provide an overall situational analysis and conceptual plan to guide the development.

It will also pave the way for further collaborations including the development of key growth centres in the area.

Pune is Maharashtra’s fast-growing IT and manufacturing hub.

Singapore’s Minister-in-charge of Trade Relations S Iswaran and Maharashtra’s Chief Minister Devendra Fadnavis chaired the inaugural Maharashtra-Singapore Joint Committee meeting where both Ministers signed a framework agreement to facilitate Singapore investments into Maharashtra.

Both sides also agreed to look at collaboration opportunities in Maharashtra’s aviation, urban infrastructure and port and logistics sectors.

The Ministers witnessed the signing of a Memorandum of Understanding (MoU) between Enterprise Singapore and Pune Metropolitan Region Development Authority (PMRDA) to collaborate on the planning and development of the PMR.

PMRDA presented a Letter of Award to Singapore’s Surbana Jurong as its appointed master planner.

The Maharashtra Airport Development Corporation (MADC) also presented a Letter of Award to Changi Airports International (CAI) for advisory services for the proposed new Pune Airport.

Enterprise Singapore, a state agency promoting investments, will work with PMRDA to identify key developments in the region and facilitate the participation of Singapore companies in urban infrastructure, transport and logistics, and manufacturing.

Enterprise Singapore will also conduct activities for knowledge exchange in urban planning and development with PMRDA.

Iswaran said, “The partnership with Maharashtra marks another key milestone in our bilateral economic ties with India.

“Our collaboration on the Pune Metropolitan Region including the development of the Pune masterplan and Pune Airport will deepen our engagement with Maharashtra and open doors to greater opportunities for our companies.

“It will also strengthen Singapore’s reputation and expertise in smart city development and urban rejuvenation,” he said.

“We will work together to promote Maharashtra as an investment destination for Singapore companies, anchored by impactful and mutually beneficial projects,” Iswaran assured.

Tan Soon Kim, Assistant Chief Executive Officer of Enterprise Singapore said, “The MOU between Enterprise Singapore and
PMRDA adds to our strong partnership and will boost Singapore companies’ participation in urban infrastructure, transport and logistics, and manufacturing opportunities in the region.”

Pune has established itself as an IT and manufacturing (automobiles and chemicals) hub.

As an IT hub, Pune ranks third after Bangalore and Hyderabad. Pune is also a R&D hub for manufacturing, with Mercedes Benz and Hyflux basing their R&D facilities there.

Pune, together with Mumbai, will continue to be the twin driving forces of Maharashtra’s economy.

Known as the commercial capital and the gateway to India because of its connectivity (ports and air) and its status as a global financial hub, Mumbai is the main driver of Maharashtra’s growth.

Singapore’s economic interests in Maharashtra are the widest across all the Indian states.

With its large and diversified economy, Maharashtra provides opportunities for Singapore companies across both the private and public sectors.

Maharashtra is home to the largest number of Singapore companies, such as PSA, DBS Bank, Ascendas-Singbridge, Charles & Keith, Etonhouse and Ademco mostly based in Mumbai and Pune.

The partnership will help facilitate greater Singapore investments into Maharashtra and provide a regular platform to identify opportunities.

Leave A Reply

Your email address will not be published.