Reliance’s next big hub after Hazira, Jamnagar, Dahej industrial complexes to come up in Navi Mumbai
The conglomerate, led by Mukesh Ambani, said that the Memorandum of Understanding was signed with the Maharashtra government in February 2018 to develop a global economic hub, consisting of world-class integrated digital and services industrial areas with global partnerships.
- Jun 5, 2024,
- Updated Jun 5, 2024 3:06 PM IST
Reliance Industries will develop an economic hub, spanning about 3,750 acres of land in Navi Mumbai. The conglomerate had completed the registration of the sub-lease deeds for the land parcel, and received the intimation on June 3.
The conglomerate, led by Mukesh Ambani, said that the Memorandum of Understanding was signed with the Maharashtra government in February 2018 to develop a global economic hub, consisting of world-class integrated digital and services industrial areas with global partnerships.
Shares of Reliance Industries Ltd (RIL) were last seen trading 1.73 per cent higher at Rs 2,841.90 on Tuesday. On BSE, around 1.64 lakh shares were last seen changing hands. The figure was way more than the two-week average volume of 3.28 lakh shares.
The registration of the sub-lease deeds for 3,750 acres of land, associated with development rights, is for a period of 43 years, for an aggregate consideration of Rs 13,400 crore, from Navi Mumbai IIA, where CIDCO holds 26 per cent. The sub-leased land, as per the terms of the Maharashtra Industrial Policy, 2013, has to be used for the development of an integrated industrial area.
Before this, RIL had developed large integrated industrial complexes at Hazira, Jamnagar and Dahej, as well as a fast-growing integrated smart city in Jhajjar district of Haryana, a convention centre and modern office space at Mumbai’s Bandra-Kurla Complex.
Reliance Industries will develop an economic hub, spanning about 3,750 acres of land in Navi Mumbai. The conglomerate had completed the registration of the sub-lease deeds for the land parcel, and received the intimation on June 3.
The conglomerate, led by Mukesh Ambani, said that the Memorandum of Understanding was signed with the Maharashtra government in February 2018 to develop a global economic hub, consisting of world-class integrated digital and services industrial areas with global partnerships.
Shares of Reliance Industries Ltd (RIL) were last seen trading 1.73 per cent higher at Rs 2,841.90 on Tuesday. On BSE, around 1.64 lakh shares were last seen changing hands. The figure was way more than the two-week average volume of 3.28 lakh shares.
The registration of the sub-lease deeds for 3,750 acres of land, associated with development rights, is for a period of 43 years, for an aggregate consideration of Rs 13,400 crore, from Navi Mumbai IIA, where CIDCO holds 26 per cent. The sub-leased land, as per the terms of the Maharashtra Industrial Policy, 2013, has to be used for the development of an integrated industrial area.
Before this, RIL had developed large integrated industrial complexes at Hazira, Jamnagar and Dahej, as well as a fast-growing integrated smart city in Jhajjar district of Haryana, a convention centre and modern office space at Mumbai’s Bandra-Kurla Complex.