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ZR Power Holdings Limited Signs MoU with The Government of Maharashtra to invest INR 1200 Crore in the state

ZR Power Holdings Limited, a leading energy producer from Hyderabad has embarked on a new journey by signing a Memorandum of Understanding (MOU) with the Government of Maharashtra in presence of Shri Subhash Desai, Minister of Industries, Govt of Maharashtra, Dr P. Anbalagan, CEO, Maharashtra Industrial Development Corporation (MIDC) and Baldev Singh, additional chief secretary industries.

The Memorandum of Understanding was signed in Dubai. The MOU aims to build state-of-the-art sustainable energy manufacturing plants/data centres with world-class facilities in Maharashtra.

Under this MoU, a total of two ZR Data Centres have been proposed in markets like Navi Mumbai and Pune totalling a development potential of INR 1200 crore, and generating direct employment for 300 employees. The proposed cost for the ZR Data Centre at Navi Mumbai is INR 800 crore, and INR 400 crore for the ZR Data Centre 2 at Pune.

"We are honoured to sign this Memorandum of Understanding with the Government of Maharashtra," said Zain Ravdjee, Founder of ZR Power Holdings Limited, of the development. The MoU marks long-term cooperation between the Maharashtra government and ZR Power Holdings Limited. Maharashtra, as a state, is the country's economic engine, and we intend to increase our investment with the goal of improving the state's technical infrastructure. These two projects will solidify ZR Group's leadership in the Data Centre industry.

ZR Power Holdings Limited is a sustainable energy producer headquartered in Telangana. The firm also constructs data centres. ZR Renewable is subsidiary company of ZR Power Holdings Limited and an Independent Power Producer (IPP) established in 2011 by Mr. Zain Ravdjee to solve the gap in renewable energy supply and promote Renewable Energy power projects for sustainability and efficiency in the country. It is one of the most significant branches of ZR Power Holdings Limited.

Given the evident social and economic advantages of the investments, the Maharashtra government has vowed to assist in streamlining the regulatory processes and permissions for the two projects in order to promote general ease of doing business.

ZR Power Holdings Limited, promoted by the renowned Ravdjee Family, remains committed and will work closely with the government to propel economic growth. The company has grown exponentially and is looking to expand into other forays by FY2023.