Industrialist Mukesh Ambani is tying up with several global companies to build an integrated industrial area on the outskirts of Mumbai.
Tying up with many global companies, Industrialist Mukesh Ambani has decided to build an integrated industrial area on the outskirts of Mumbai.
At the Magnetic Maharashtra Investors Summit yesterday, Ambani said that several global companies like CISCO, Siemens, Corning Inc, Hp, dell, Nokia, etc. have show their interest in investing in this project.
He said “When we contacted globally reputed technology companies to participate in this initiative, we received an instant and enthusiastic response”
Around Rs.60, 000 cr will be invested in course of the next few years in the industrial area in Navi Mumbai.
Ambani, along with his associates Anand Jain of Jai Corp and Nikhil Gandhi of SKIL Infrastructure Ltd. had intended to build a Special Economic Zone (SEZ) on 5,200 acres more than a decade ago, but with SEZ failing to materialize, the Maharashtra Government has allowed them to build an industrial area in its place.
Around 85% of the land in the integrated industrial area will be used to set up industrial projects, including manufacturing units, IT parks, warehouses, etc. the rest of the land will be reserved for other commercial and residential purposes.
The industrial city will be located close to the ongoing Navi Mumbai airport and the Jawaharlal Nehru Port Trust (JNPT).