Navi Mumbai SEZ sanctioned additional land

Mumbai, Nov 8 (UNI) The Maharashtra Cabinet today sanctioned additional 1150 hectares of land for the Navi Mumbai Special Economic Zone (SEZ) being developed by Reliance Industries Ltd (RIL) in association with state government-owned CIDCO.

The decision was taken at the weekly Cabinet meeting chaired by Chief Minister Vilasrao Deshmukh.

The SEZ comprises areas of Dronagiri, Ulve, and Kalamboli in Navi Mumbai. The State Government has appointed CIDCO as the nodal agency for the project.

The SEZ project is being implemented in public-private partnership and CIDCO has equity of 26 per cent while the private parties have 74 per cent. The project is to be completed in six years. Out of the total land, 15 per cent is to be used for residential purposes while the rest for industrial activities.

Electricity supply will be provided by the developers, an official press release issued here said today.

The cabinet also decided to provide government guarantee on Rs 25.97 crore extended short-term loans and interest to 18 co-operative sugar units.

In yet another decision, the Cabinet waived off a housing loan of Rs 33.54 crore that was due from project affected persons prior to March 31, 1994.

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