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The Mahindra Group has been short-listed for the project along with two others -- Nirmal Lifestyle and Ackruti - for the Rs 5,000-crore innovation park project. These companies are expected to make their presentations for the project to the state government shortly.
MMRDA has proposed to develop an innovation park of global standards through the public-private partnership (PPP) route over an area of about 5,000 acres. The project will house research, education and industry sectors, and will employ about 25,000 scientists. In November 2009, the MMRDA had invited EoIs for the project. Eleven bidders had shown interest in the project and three companies have been short-listed. MMRDA will contribute 26 per cent equity and share revenues in proportion to its equity and will facilitate clearances and town planning compliances.
MMRDA is the nodal agency responsible for planning Mumbai’s metropolitan area development as well as the urban area on the mainland
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