Mumbai: Navi Mumbai Special Economic Zone Pvt. Ltd—promoted by Reliance Industries Ltd chairman Mukesh Ambani, Jai Corp. India, SKIL Infrastructure Ltd and City and Industrial Development Corp (CIDCO)—will be developed in phases and be open to industrial units in 2019, two officials aware of the development said.
On Tuesday, the Maharashtra government allowed Navi Mumbai SEZ promoters to convert the SEZ into an integrated industrial area. The SEZ is proposed to be developed over 2,140 hectares in Dronagiri, Ulwe, and Kalamboli nodes in Navi Mumbai.
“The intention is to get industries. In another two to three months, we will complete the approval process and documentation. We will then develop the area for all kinds of industries to come and set up shop,” one of the officials cited above said, speaking on condition of anonymity.
Following the government’s decision, the SEZ will be able to use up to 15% of the total leased land—1,842 hectares at present—for residential purposes and the remaining 85% for industrial use.
CIDCO holds 26% stake in Navi Mumbai SEZ, while the rest is held by Ambani, Jai Corp. promoted by Anand Jain and Nikhil Gandhi’s SKIL Infrastructure. Emails sent to the three offices did not elicit any response till the time of going to press.
“Development will start in June 2018 wherein we will put all the infrastructure in place including roads, electricity, and water connections. We will not be setting up units on our own. We will get customers who will set up their own units, be it hospitals, schools or shops. We will be giving the plots on lease. There is much demand for local industries and exports businesses in the Navi Mumbai region,” the second official cited above added, also on condition of anonymity.
On Tuesday, Mint reported that CIDCO and promoters have so far been able to purchase 1,842 hectares which will be leased out now. The project, envisaged over a decade ago, failed to take off due to various reasons, including policy and taxation changes.
The integrated industrial township policy allows promoters of non-functioning SEZs to convert the specially designated areas into industrial townships by allotting up to 40% of the total project area for commercial and residential purposes.
However, given that Navi Mumbai SEZ was approved under a different set of conditions, it has been allowed to use only 15% land for residential purposes
The policy also provides for the opening up of some land parcels on the SEZ to develop information technology (IT) parks and IT-enabled services.livemint