Reliance Industries Limited (RIL) To Set Up Mega-City Near Mumbai; will attract 75 Billion Dollars Investments in next 10 years

Reliance Industries Limited (RIL) To Set Up Mega-City Near Mumbai; will attract 75 Billion Dollars Investments in next 10 years



Mukesh Ambani who recently made big disruption in telecom industry by launching Jio, is now working on a new plan. His company Reliance Industries Ltd. (RIL) is going to develop and construct a mega city near Mumbai. The company is working on the Blueprint of this mega city. It is expected that in the next 10 years, this project will invest $ 75 billion (5.22 lakh crores). The highlight of this project is that Reliance will not only develop this project, but the administration of this city will have complete control over Reliance. This will not interfere with bureaucracy and red-phytashahi in the project.

Reliance planning $ 75 BN in next decade . It will create a buzz in the country and rewrite real estate history in a decade.

Reliance has done an initial investment of Rs 2,180 crore.The Navi Mumbai Special Economic Zone (NMSEZ) has 4,300 acres of prime land, which is connected to the Jawaharlal Nehru Port Trust and the under construction is new airport. On 7th March this year, a subsidiary of Reliance signed Memorandum of Understanding (MoU) with NMSEZ. Under this agreement, Reliance has taken lease of land at an initial investment of Rs 2,180 crore to land the city. RIL had signed an Memorandum of Understanding with Maharashtra Government in March,2019.

The special purpose vehicle — Navi Mumbai Special Economic Zone (NMSEZ) — already owns 4,300 acres of prime land, with connectivity to the Jawaharlal Nehru Port Trust and the new airport project currently under construction in the vicinity.

This will result and it will transform in a world class city with ready connectivity of port , airport, , sea link , industrial corridor. This will lead to reverse migration as south mumbai real estate may face tough competition due to best infrastructure and planned space available in new mumbai.

This is going to change Mumbai forever. Accommodation for half a million people in navi mumbai that will look like singapore is jaw dropping. Another dream project of Dhirubhai Ambani being drawn by his son Mukesh Ambani. Awesome never before seen scale of mega city project in making.

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