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23 October 2007

Navi Mumbai SEZ to include Co-Developers

The Government has cleared seven co-developers in Mukesh Ambani-promoted Navi Mumbai SEZs, thus endorsing fresh investment through private equity players by a key partner of the RIL Chairman.

"The Board of Approval gave a green signal to the Navi Mumbai SEZ proposal subject to their producing data on net assets of the co-developers," Commerce Secretary G K Pillai said.

The intricately structured SEZ was first divided into four zones - one multi-product and three for IT and ITeS. Later, the promoters inducted seven co-developers with Jai Corp being the holding firm for these partners.

According to sources, Jai Corp had sold its 10 per cent stake through an overseas infrastructure fund and raised Rs 2,500 crore to be ploughed back to all the co-developers.

A source said with the government approving the co-developers's arrangement and the 'money having been realised, the promoters can go ahead with new financial restructuring.'

"The Navi Mumbai SEZ will have to furnish all the financial data to the government by the month-end," Pillai said.

The promoters, mainly Ambani and his aide Anand Jain had to divide the SEZ into four zones for meeting the contiguity criterion of the law. Later, co-developers joined the zone with each of them taking up sub-projects of electricity generation, transmission, water and roads.

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Comments

# vaibhav said:

First mayor sanjeev naik announce alert Sandpada Resident felicitated for spotting Bomb in Time at Vishnudas Bhave Auditorum

Sridhar Sonawane, a Sanpada resident who found the explosive device at Vishnudas Bhave auditorium was felicitated at an event at the auditorium for his alertness and bravery.

On the occasion of World Environment Day various events and programs were held to instill the importance of environment in people. On the day, Sridhar Sonawane, a resident of Sanpada who deterred the terrorists’ target of planting an explosive device at Vishnudas Bhave auditorium was felicitated in the presence of Mayor Anjani Bhoir, first Mayor Sanjeev Naik and MLA Bhai Jagtap for his alertness and bravery. Sonawane was felicitated during a program held by National Civil and....

http://navimumbai-naiksanjeev.blogspot.com/2008/12/alert-sanpada-resident-felicitated-for.html 

14 January 09 at 4:44 PM
# ........... said:

Water mgmt award for Navi Mumbai Municipal Corporation (NMMC)

For the second consecutive year, Navi Mumbai Municipal Corporation (NMMC) has bagged the National Urban Water Award 2009 for excellence in water management and service to urban poor.

The award was instituted by the Government of India in 2008. The award, instituted by the Ministry of Urban Development (MoUD), is aimed at honouring urban local governments and water boards that had taken significant steps towards effective water management and improvement in service delivery.It was only befitting that Sandeep Naik received the award, since he was instrumental in getting the pipelines laid to bring the water to the city, the dam for which was envisioned by his father Ganesh Naik in early 2000 and the plan was executed by his older brother Sanjeev Naik, who was then the Mayor of Navi Mumbai, despite much opposition from all quarters.

http://sandeepnaik-navimumbai.blogspot.com/

http://en.wikipedia.org/wiki/Sandeep_Naik

http://www.sandeepnaik.com/

03 September 09 at 3:02 PM
# ....... said:

Relief for Yadavnagar residents as standing committee sanction’s three proposals for toilets

The NMMC has floated the proposal of constructing two public toilets in Yadavnagar of Airoli for nearly Rs. 50 lacs. To find out how necessary this civic work, Monika Bhosale traveled to Yadavnagar for an investigative report and found out that equally important is for NMMC to float the proposal of a municipal school at the earliest.

The locals are however happy ever since the NMMC Standing Committee approved the bid of Yashraj Infrastructure to re- construct three toilets at the cost of Rs. 77 lacs 35 thousand 959. The three new toilets will come as a major relief to the locals and will solve one of their most burning issues. Standing Committee Chairman Sandeep Naik informed that while the toilets are needed, he has ordered the administration to take up the work for a school too at the earliest.


04 September 09 at 3:07 PM
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