RIL registers a sub-lease deed to build a global economic hub
Real Estate

RIL registers a sub-lease deed to build a global economic hub

Reliance Industries (RIL), which is supported by Mukesh Ambani, said that its wholly-owned companies have finished registering a sub-lease deed for 3,750 acres of property in Maharashtra, where it intends to establish a global economic powerhouse. The company and the Maharashtra government inked a Memorandum of Understanding (MOU) in February 2018 with the goal of creating a global economic powerhouse with world-class integrated digital and services industries and international alliances. The statement on BSE reported that RIL's wholly owned subsidiaries had completed the registration of sub-lease deeds for approximately 3,750 acres of land, along with the associated development rights, for a period of 43 years, for a total consideration of Rs 134 billion from Navi Mumbai IIA Private Limited, in which CIDCO held 26 percent. It was mentioned that CIDCO, which stands for City and Industrial Development Corporation, is a state-run town planning agency for Navi Mumbai. The firm stated that the sub-leased land was required to be utilised for the development of an integrated industrial area according to the terms of the Maharashtra Industrial Policy, 2013. In his speech at the Magnetic Maharashtra event in 2018, Ambani announced that RIL would establish India?s first-ever integrated industrial area for the fourth Industrial Revolution in the state of Maharashtra. He had further stated that the company would invest more than Rs 600 billion over the next 10 years in this collaborative initiative with a coalition of global companies. A wholly-owned subsidiary of RIL agreed to an MOU with Navi Mumbai SEZ (NMSEZ) a year later, in 2019, to sublease property totaling around 4000 acres and the corresponding development rights from it, all of which were connected to the same projected industrial region. Large integrated industrial complexes in Hazira, Jamnagar, and Dahej, a rapidly expanding integrated smart city in the Jhajjar region of Haryana, a cutting-edge convention centre, and contemporary office space in Mumbai's Bandra-Kurla Complex are just a few of the projects that RIL has demonstrated its ability to build.

Reliance Industries (RIL), which is supported by Mukesh Ambani, said that its wholly-owned companies have finished registering a sub-lease deed for 3,750 acres of property in Maharashtra, where it intends to establish a global economic powerhouse. The company and the Maharashtra government inked a Memorandum of Understanding (MOU) in February 2018 with the goal of creating a global economic powerhouse with world-class integrated digital and services industries and international alliances. The statement on BSE reported that RIL's wholly owned subsidiaries had completed the registration of sub-lease deeds for approximately 3,750 acres of land, along with the associated development rights, for a period of 43 years, for a total consideration of Rs 134 billion from Navi Mumbai IIA Private Limited, in which CIDCO held 26 percent. It was mentioned that CIDCO, which stands for City and Industrial Development Corporation, is a state-run town planning agency for Navi Mumbai. The firm stated that the sub-leased land was required to be utilised for the development of an integrated industrial area according to the terms of the Maharashtra Industrial Policy, 2013. In his speech at the Magnetic Maharashtra event in 2018, Ambani announced that RIL would establish India?s first-ever integrated industrial area for the fourth Industrial Revolution in the state of Maharashtra. He had further stated that the company would invest more than Rs 600 billion over the next 10 years in this collaborative initiative with a coalition of global companies. A wholly-owned subsidiary of RIL agreed to an MOU with Navi Mumbai SEZ (NMSEZ) a year later, in 2019, to sublease property totaling around 4000 acres and the corresponding development rights from it, all of which were connected to the same projected industrial region. Large integrated industrial complexes in Hazira, Jamnagar, and Dahej, a rapidly expanding integrated smart city in the Jhajjar region of Haryana, a cutting-edge convention centre, and contemporary office space in Mumbai's Bandra-Kurla Complex are just a few of the projects that RIL has demonstrated its ability to build.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?