CIDCO signs four major MoUs at Davos WEF

10 Feb 2025 CW Team

The City and Industrial Development Corporation (CIDCO) has signed four major Memorandum of Understanding (MoUs) at the World Economic Forum in Davos, aiming to bring significant economic and infrastructural development to Navi Mumbai.

Among the key agreements, CIDCO has partnered with Eruditus and BookMyShow for large-scale projects in Navi Mumbai. The MoU with Eruditus involves an investment of Rs 200- Rs 250 billion over the next decade to develop an International Educity, creating 20,000 direct employment opportunities. The collaboration with BookMyShow will establish an outdoor entertainment arena in Maharashtra with an investment of Rs 17 billion, generating around 500 jobs.

While launching the International Educity project, CIDCO announced it would bring together 8-10 foreign universities to create a global education hub. Located within a 5 km radius of the upcoming Navi Mumbai International Airport, the Educity will offer world-class education infrastructure and research facilities, he added. For the entertainment industry, CIDCO has partnered with BookMyShow to develop a state-of-the-art outdoor entertainment arena modeled after international venues like Madison Square Garden in New York and The O2 Arena in London. The arena will have a seating capacity of 20,000 or standing space for 25,000, making it the largest of its kind in the country.

CIDCO has also signed two more MoUs to enhance Maharashtra’s digital and logistics infrastructure. An MoU with Panchshil Realty will bring an investment of Rs 250 billion for a state-of-the-art data center, supporting the growth of businesses and technology firms. Another agreement with Welspun World involves a Rs 15 billion investment in a logistics park, creating 2,000 direct employment opportunities.

Building Material

08 Apr 2026

Jindal Aluminium Marks 56 Years of Industrial Leadership

Jindal Aluminium Limited has marked its 56th Inception Day, celebrating a legacy built on vision, resilience and manufacturing leadership. Founded in 1968 and incorporated in 1970 by Padma Bhushan Dr Sitaram Jindal, the company has grown into a major force in India’s downstream aluminium sector under the leadership of Pragun Jindal Khaitan.The company is India’s largest manufacturer of aluminium extruded products and the second-largest producer of aluminium flat-rolled products. With a turnover of around Rs 5,500 crore and a workforce of over 4,000, Jindal Aluminium continues to strengthen..

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..