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   RIL kicks off ‘new city’ plan    
 

Gurgaon News: MUKESH AMBANI’S journey to create a new city just outside Mumbai has begun. Reliance, which is setting up two special economic zones (SEZs) on 14,000 hectares of land, starting from outside New Mumbai and going up to Pen in the Konkan region, has kicked off the process to create special purpose vehicles (SPVs) to invest in projects inside the SEZs. The move is prelude to starting a competitive bidding process soon to select prospective investors.

 
 

For starters, five departments, each headed by a domain expert, have been created to monitor projects and manage the SPVs. While Milind Kelkar (55), a former chief engineer with the Maharashtra state water supply department, is heading the water supply division, M.R. Ambhore (55), a former executive with MSEB, is at the helm of the power generation department. Adhir Sarkar, who had worked with leading private sector construction companies, is in charge of the construction department. In addition to this, independent divisions to manage transportation and port development have been rolled out. For each project, Reliance will provide the land leaving the development to prospective investors, who form part of the SPVs.

As reported by HT earlier, Mukesh’s close friend Anand Jain is spearheading the Mumbai SEZ projects (Navi Mumbai SEZ and Mumbai SEZ), involving an investment of more than Rs 25,000 crore.

The city, modelled on the lines of Jebel Ali in Dubai and Shenzen in China, will house close to a million people. It will have residential apartments, shopping complex and an airport. And it will be linked to Mumbai city by a sea bridge. There are around 5,000 SEZs worldwide with most of them managed by governments. Reliance’s project is the first-of-its kind from private sector.

In less than a week, Hong Kong-based Ju rong Corporation will hand over the draft blueprint for the SEZ projects to Reliance.

Over the last week, Jurong team has been collating details from where the “model city” is coming up. “Jurong executives came to do final survey of the place. The draft plan will be ready soon,” said a source familiar with the matter.

Service industries such as electronics, contract research, and finance will form the mainstay of the city. The project will be completed in 2016 and development will be done in clusters. The land acquisition for the first cluster has been completed.

Since Reliance is promising to provide 25 lakh jobs, the company has started training local peo ple. Vocational training is now being pro vided to the youth in local technical train ing institutes. Non-governmental agencies have has also been roped in to conduct per sonality training caps for local youths.

Reliance has formed a consortium with CIDCO and Nikhil Gandhi-owned Skill In frastructure Pvt Ltd for developing Navi Mumbai special economic zone (4,000 hectares). Reliance will single-hand edly develop 10,000 hectares under the Mum bai special economic zone (formerly Maha Mumbai SEZ.) MONEY 25K cr Total investment planned for Navi Mumbai SEZ and Mumbai SEZ LAND 14K ha. Total area to be developed 4,000 ha. for Navi Mumbai SEZ 10,000 ha. for Mumbai SEZ (formerly Maha Mumbai SEZ) MANPOWER 25 lakh Jobs Reliance promises to provide DEADLINE 2016 The project will be completed in 2016 and development will be done in clusters. The land acquisition for the first cluster has been completed.

 
 

Source: by hindustan times

 

 

 

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