Ambani to invest Rs 60,000 cr in Navi Mumbai industrial city

Shiv Kumar

Tribune News Service

Mumbai, February 19

Industrialist Mukesh Ambani is tying up with several global companies to build an integrated industrial area on the outskirts of Mumbai.

Addressing the Magnetic Maharashtra Investors Summit yesterday, Ambani said several global companies like Cisco, Siemens, Corning Inc, HP, Dell, Nokia and Nvidia, etc have shown interest in being part of the project. “When we contacted globally reputed technology companies to participate in this initiative, we received an instant and enthusiastic response,” Ambani said.

Ambani said as much as Rs 60,000 crore will be invested over the next few years in the industrial area which is planned in Navi Mumbai.

Ambani and 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. However, with the SEZ not materialising the Maharashtra Government agreed to let the company build an industrial area in its place.

According to the state government, 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 may be used for residential and commercial purposes. The proposed integrated industrial city will be located close to the under-construction Navi Mumbai airport and the Jawaharlal Nehru Port Trust (JNPT).