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Mumbai SEZ gathers pace

Mumbai, Dec. 18: Moving another step closer to setting up a special economic zone (SEZ) in Navi Mumbai, the City and Industrial Development Corporation of Maharashtra (Cidco) has shortlisted eight players as strategic partners. Cidco will have majority control.

The major players interested in the venture are Larsen and Toubro, Essar Construction, Reliance Capital and The Chatterjee Group through TCG Urban Infrastructure Holdings. The others are G.M.R Power, Anik Development Corporation, Videocon International, and Insignia Financial Group. Significantly, the Tatas are out of the race as Tata Housing failed to figure among the shortlisted firms.

According to Anil Kumar Lakhina, vice chairman and MD of Cidco, the SEZ aims to attract an FDI of $ 8 billion in 10 years, massive industrialisation and technology transfer. The zone has received all approvals from the central and state government.

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