Maha CM launches Rs 45000 Cr economic devpt zone

Supporting the Navi Mumbai airport, chief minister Ashok Chavan expressed confidence that all obstacles will be removed. “Issues relating to mandatory permission required for construction of the airport will soon be sorted out,’’ said Chavan, inaugurating the economic development zone (EDZ) promoted by the Gulf Finance House (GFH). The GFH will invest around Rs 45,500 crore in the EDZ spread over an area of 1,700 acres near Panvel. The airport, slated to come up on 2,750 acres at Panvel, has run into trouble because of objections from the Ministry of Environment and Forests. The MoU between the state government and GFH signed in 2007 became a reality in a short span of time. “This is one of the largest foreign direct investment (FDI). To encourage more such FDI in Maharashtra, the state and its agency MMRDA will focus on providing more infrastructure projects to areas in and around Mumbai,’’ added Chavan. The MoU between the state and GFH would provide employment opportunities to around 2.5 lakh people, said Esam Janahi, chairman of the GFH. “The focus should be on creating rental housing so that accommodation is provided to those taking up these large scale job openings,’’ said Chavan. He added that the ambiguity surrounding the Mumbai Trans Harbour Link (MTHL) project would be cleared. “Within 15 to 20 days, the state government will take a final decision in connection with this project,’’ he added. The eight-lane 22-km MTHL, which is estimated to cost about Rs 7,700 crore, would reduce the distance between Mumbai and the hinterland of the state (Sewri to Nhava). The distance between the two locations, which is covered in over two hours, is likely to be reduced to about 30 minutes.