Maharashtra allocates additional land for Navi Mumbai SEZ

November 9, 2006	(Be the first to rate this story!)  Loading ...
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The Maharashtra Cabinet on Wednesday approved allocation of additional 1,150 hectares of land for the Navi Mumbai Special Economic Zone (SEZ) coming up in the neighbouring satellite town.

Of the proposed 2,140 hectares for the mega economic conclave, 450 hectares had already been allocated, official sources said.

The project is being set up in Dronagiri, Ulve and Kalamboli areas of Navi Mumbai, about 40 kms from here.

The City Industrial and Development Corporation (CIDCO), a state government entity, has been appointed as the nodal agency for the project.

The SEZ is being undertaken in partnership with the private sector. CIDCO’s equity stake in the project is at 26 per cent and the private company’s at 74 per cent.

The promoter company has to complete the work in six years. Of the project land, 15 per cent has been reserved for residential purpose and the rest is for industrial use, the sources said.

The electricity for the SEZ would be provided by the private developer, they added.

Source: www.zeenews.com

News Published Under:   Mumbai, Special Economic Zones |

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