For Navi Mumbai Special Economic Zone (NMSEZ), plan is getting ready to denotify 2,140-hectares SEZ land and develop the same as an IT park and an integrated township which would include residential complexes, shopping malls, multiplexes, hotels, schools, colleges and hospitals. The NMSEZ co-promoters are: Reliance Industries (RIL) Chairman Mukesh Ambani and his close associate Anand Jain.
The move follows the announcement of the new industrial policy of Maharashtra that allows developers of such SEZs to develop commercial and residential projects in 40 per cent of the land, leaving the remaining for industrial use.
Sources in RIL told a leading newspaper that the company welcomes the government's move. It will denotify the land and start commercial development soon. The land that has been lying idle for years can now be put to use to create jobs. NMSEZ alone will generate employment for over 5 lakh people, the sources said. With the new industrial policy, NMSEZ will be able to use 850 acres of prime land in Navi Mumbai's Ulwe, Dronagiri and Kalamboli node for commercial and residential development.
About 10 per cent of the land will be used for commercial purposes, while the remaining 30 per cent will be used for integrated residential townships. About 74 per cent of NMSEZ is owned by Dronagiri Infrastructure (DIPL), a company owned by RIL Chairman Mukesh Ambani and Anand Jain of Jai Corpand Sea King Infrastructure (SKIL), while the rest 26 per cent is owned by CIDCO.