RIL will build a digital industrial hub in Navi Mumbai

07 Jun 2024 CW Team

In February 2018, Reliance Industries (RIL) and the Government of Maharashtra signed a Memorandum of Understanding (MOU) for the development of a worldwide economic Hub, which will include state-of-the-art integrated digital and services industrial areas with worldwide collaborations.

Additionally, RIL's fully owned companies have finished registering sublease agreements for around 3,750 acres of land and the related development rights for a 43-year term from Navi Mumbai IIA, of which CIDCO owns 26%, for a total price of Rs. 134 billion. Under the Maharashtra Industrial Policy, 2013, the subleased land must be developed into an integrated 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.

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