Mumbai Capital

CIDCO announces Rs 34,000-crore smart city project

Skyline of Navi Mumbai—Photo: Jagatdeep Singh  

The Navi Mumbai town planning authority, City and Industrial Development Corporation (CIDCO), on Wednesday announced its first smart city project in the satellite town, envisaging an investment of over Rs 34,000 crore.



Maharashtra Chief Minister Devendra Fadnavis will make the announcement for smart city ‘Navi Mumbai South’ on December 4, during a two-day exhibition to be organised by CIDCO here.

“Navi Mumbai is now working meticulously to make the developing nodes of south Navi Mumbai a smart and eco-friendly habitat. Indeed, the development plan is poised to make south Navi Mumbai a future destination for smart and sustainable living,” CIDCO Vice-Chairman and Managing Director Sanjay Bhatia told reporters here. He said the smart city project would be self-financed and CIDCO would not take funds from the government.

“Our development plan is based on 10 major building blocks and 88 sub-projects with a total investment of Rs 34,777.40 crore. CIDCO will be funding the entire project without any financial aid from the government,” Mr Bhatia said.

He further said the Development Project Reports (DPR) of the proposed projects are also ready and most of the smart city projects are expected to be completed by 2019.

CIDCO has already undertaken various projects, including Navi Mumbai International Airport, JNPT capacity building, NAINA pilot project, metro and railway projects and affordable housing, which will be the major economic triggers for the city, Mr Bhatia added.

“In the coming five years, there will be investment of more than Rs 50,000 crore for infrastructural development in these regions, leading to the creation of about 8.7 lakh jobs,” he added. - PTI



Our development plan is based on 10 major building blocks and 88 sub-projects



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Printable version | Nov 22, 2020 7:58:57 PM | https://www.thehindu.com/news/cities/mumbai/business/cidco-announces-rs-34000crore-smart-city-project/article7943833.ece

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