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					           CED documentation is for educative purposes-for your reference and s,udy only



THE HINDUSTAN TIMES, NEW DELHI, 17 JUL 2006
                                                                                               J06

    RIL kicks off 'new city' plan
    Realiance to create SPVs; forms five departments headed by
    domain experts
    SABARINATH M                                  house close to a million people. It will have
    Mumbai, July 16                               residential apartments, shopping complex
                                                  and an airport. And it will be linked to
    MUKESH AMBANI'S journey to create a Mumbai city by a sea bridge. There are
    new city just outside Mumbai has begun. around 5,000 SEZs worldwide with most of
    Reliance, which is setting up two special them managed by governments. Reliance's
    economic zones (SEZs) on 14,000 hectares of project is the first-of-its kind from private
    land, starting from outside New Mumbai sector.
    and going up to Pen in the Konkan region,       In less than a week, Hong Kong-based Ju-
    has kicked off the process to create special rong Corporation will hand over the draft
    purpose vehicles (SPVs) to invest in projects blueprint for the SEZ projects to Reliance.
    inside the SEZs. The move is                                  Over the last week, Jurong
    prelude to starting a compet-                                 team has been collating de-
    itive bidding process soon to                                 tails from where the "model
    select prospective investors.                                 city" is coming up. "Jurong
       For starters, five depart-                                 executives came to do final
    ments, each headed by a do-                                   survey of the place. The
    main expert, have been cre-                                   draft plan will be ready
    ated to monitor projects and                                  soon," said a source familiar
    manage the SPVs. While                                       with the matter.
    Milind Kelkar (55), a former                                     Service industries such as
    chief engineer with the Ma-                                   electronics, contract re-
    harashtra state water supply                                  search, and finance will
    department, is heading the                                   form the mainstay of the
    water supply division, M.R.                                   city. The project will be com-
    Ambhore (55), a former exec-                                 pleted in 2016 and develop-
    utive with MSEB, is at the                                    ment will be done in clus-
    helm of the power genera-                                     ters. The land acquisition for
    tion department. Adhir                                        the first cluster has been
    Sarkar, who had worked An artist's impression of a            completed.
    with leading private sector structure in the SEZ                 Since Reliance is promis-
    construction companies, is                                    ing to provide 25 lakh jobs,
    in charge of the construction department. the company has started training local peo-
    In addition to this, independent divisions to ple. Vocational training is now being pro-
    manage transportation and port develop- vided to the youth in local technical train-
    ment have been rolled out. For each project, ing institutes. Non-governmental agencies
    Reliance will provide the land leaving the have has also been roped in to conduct per-
    development to prospective investors, who sonality training caps for local youths.
    form part of the SPVs.                          Reliance has formed a consortium with
       As reported by HT earlier, Mukesh's close CIDCO and Nikhil Gandhi-owned Skill In-
    friend Anand Jain is spearheading the frastructure Pvt Ltd for developing
    Mumbai SEZ projects (Navi Mumbai SEZ Navi Mumbai special economic zone
    and Mumbai SEZ), involving an investment (4,000 hectares). Reliance will single-hand-
    of more than Rs 25,000 crore.                 edly develop 10,000 hectares under the Mum-
       The city, modelled on the lines of Jebel bai special economic zone (formerly Maha
    Ali in Dubai and Shenzen in China, will Mumbai SEZ.)
 CED documentation is for educative purposes—for your reference and study only

                                                                                                       J06


MONEY


25Kcr
Total investment planned
for Navi Mumbai SEZ and
Mumbai SEZ

LAND



14K ha.
Total area to be developed
4,000 h a . for Navi
Mumbai SEZ

10,000 h a . for Mumbai
SEZ (formerly Maha
Mumbai SEZ)

 MANPOWER



25 lakh
Jobs Reliance promises to
provide

 DEADLINE



2016
The project will be com-
pleted in 2016 and devel-
opment will be done in
clusters. The land acqui-
sition for the first cluster
has been completed




 <title>RIL kicks off 'new city' plan</title>
 <author>Sabarinath M</author>
 <publication>The Hindustan Times</publication>
 <pubDate>17/07/2006</pubDate>
 <description>Reliance to create SPVs; forms five departments headed by domain experts</description>
 <classif>J06</classif>
 <entrydt>22/07/2006</entrydt>
 <sd>SJ</sd>

				
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