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Maharashtra CM Devendra Fadnavis keen on reviving Navi Mumbai SEZ

Maharashtra Chief Minister Devendra Fadnavis has expressed his government’s keenness on reviving the Navi Mumbai Special Economic Zone to boost industrial growth, expand exports and create employment. The stakeholders — the City and Industrial Development Corporation (CIDCO), a government undertaking, is one of the stakeholders — have held a preliminary meeting to start the revival process and work out the details, he said. “The first meeting of officials and stakeholders have taken place. The details are still being worked out,” the CM said.

“The government has an open mind on the Navi Mumbai SEZ project. CIDCO already has 35 per cent stake in the project,” Fadnavis said. Jai Corp Limited, headed by Anand Jain, is one of the promoters of the project.

The plan to revive the project is part of the Fadnavis government’s commitment to drive fast industrial growth, officials said. They added that the meltdown of 2008 had hurt several SEZ projects but the government was keen on pushing them, even if other stakeholders do not show interest.

The ‘Make in India’, and ‘Make in Maharashtra’ being pushed by the new regimes at the Centre and the state are the driving force behind the move to revive SEZ projects. The land-locked Navi Mumbai SEZ was never scrapped, but was put on hold. The industrial policy mandates that land acquired for SEZ be returned to the government if it is not put to use for the intended purpose within the stipulated time.

The CM ruled out the state favouring any private players and said he was particularly keen on the SEZ because of the new international project coming up. “There is no question of the government favouring any private players or individuals. However, I am keen on development in Navi Mumbai where we have the international airport project that would become operational by 2019.”
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