Reliance Special Economic Hub Navi Mumbai
Reliance Industries Limited (RIL) is poised to create a global economic hub in Navi Mumbai, having obtained sub-leases for approximately 3,750 acres of land totalling Rs 13,400 crore.
Reliance’s next big hub after Hazira, Jamnagar, Dahej industrial complexes to come up in Navi Mumbai
RIL aims to create an advanced integrated digital services industrial area through global partnerships. The company underscores its successful track record in developing large integrated industrial complexes in Hazira, Jamnagar, and Dahej, alongside an integrated smart city in Jhajjar district, Haryana, a convention center, and modern office spaces at Mumbai’s Bandra-Kurla Complex.
RIL is set to develop a global economic hub in Navi Mumbai, having secured sub-leases for approximately 3,750 acres of land valued at ₹13,400 crore.The lease, spanning 43 years, originates from an agreement signed with the Maharashtra government in 2018. According to a regulatory filing, RIL’s subsidiaries have completed the registration of sub-lease deeds for the land, including development rights from Navi Mumbai IIA Pvt Ltd (formerly Navi Mumbai SEZ), with CIDCO holding a 26% stake.
The sub-leased land will be utilized to establish an integrated industrial area under Maharashtra Industrial Policy, 2013, facilitating the transition of SEZs into integrated industrial zones suitable for industrial unitsOriginally allocated in 2006 to Navi Mumbai SEZ through a competitive bidding process, the land was designated for developing a world-class SEZ. NMSEZ is promoted by Mukesh Ambani, CIDCO, and other entities.RIL commenced the sub-lease process with an initial payment of ₹2,180 crore in 2019.
This initiative aligns with the Maharashtra government’s strategy to ease congestion in Mumbai by establishing additional industrial hubs in Navi Mumbai and Panvel, enhancing infrastructure, affordable housing, and connectivity.The Mumbai Trans Harbour Link has notably reduced travel times, enhancing integration between these cities and Mumbai.
RIL’s project aims to establish an industrial and economic hub with robust physical and digital infrastructure, encouraging businesses to establish operations in the area.
