BIG win for Mukesh Ambani, Reliance Industries emerged one of top contenders to develop Mumbai's 70 hectares of…, along famous…
Five months after the BMC's Expression of Interest (EoI) wherein it invited private companies and voluntary organisations to develop and maintain 70 hectares of the open land near the Mumbai Coastal Road Project (MCRP), now Reliance Industries Limited (RIL) has emerged as the top contenders in a proposal . A proposal to finalise RIL has been sent to the municipal commissioner's office. After the final approval, the agency will submit detailed designs along with a timeline, reported Indian Express.
The 10.58-km Coastal Road, connects to Marine Drive's Princess Street Flyover and then to the Bandra-Worli Sea Link (BWSL). A 7.5-kilometre-long area is under construction out of which Tata Sons is developing the 5-hectare area.
Out of the 111 hectares of land reclaimed from the sea, BMC wants to develop 70 hectares of open landscape as green pockets with gardens, cycling tracks and amphitheatres.
Remaining 53 hectares, near Breach Candy to Worli, BMC was trying to find private companies to develop and maintain the open space for which an EOI was submitted. It invited private companies and voluntary organisations to design, develop and maintain this land. Five big companies like Jindal, Raymond, RPG foundation, Vedanta besides Reliance had shown interest in the proposal.
The EOI is also looking for companies with previous experience of developing similar projects within the past five years. BMC had proposed nearly Rs. 400 crore as the cost of the project works but it will be developed through CSR funding of the finalised party. Even as the BMC had revealed a blueprint for the works between Priyadarshini Park to Worli in March 2024 it has not finalised any design.
'After the proposal is approved, we will send them a selection intimation. Upon their finalisation, the agency will then submit their design proposals, which will be approved by the civic body after checking whether their designs align with the CRZ norms and the Supreme Court guidelines,' reported Free Press citing sources.
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