Reliance Industries Limited (RIL) is set to establish a global economic hub in Navi Mumbai, having secured sub-leases on approximately 3,750 Acres of land for an estimated INR 13,400 Crore. The lease duration is 43 years, following a memorandum of understanding signed with the Maharashtra Government back in 2018.
The land, initially allotted to the Navi Mumbai SEZ (NMSEZ) in 2006, will be used to develop an integrated industrial area. RIL aims to create a world-class integrated digital services industrial area through global partnerships. Moreover, the economic hub will provide infrastructure encouraging corporations to set up offices and factories.
Also Read: Redevelopment of MCGM LTMG Hospital, Phase II at Sion, Mumbai
Moreover, this initiative aligns with the state government’s plan to decongest Mumbai. It will create parallel industrial hubs in Navi Mumbai and Panvel, enhancing infrastructure and providing facilities such as affordable housing and improved connectivity.
Biltrax Construction Data is tracking 31,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights. Furthermore, gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information as well as opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
0Discover more from Biltrax Media, A Biltrax Group venture
Subscribe to get the latest posts sent to your email.
