INTRODUCTION TO NAVI MUMBAI SEZ

With the EXIM policy introduced by Government of India (GoI) in the year 2000, the concept of Special Economic Zone came into being as a duty-free industrial enclaves aimed at following objectives. a) Exports Promotion. b) Additional Economic Activity. c) Investment Promotion both domestic & foreign direct investment. d) Infrastructure Development. e) Creation of job opportunities.

CIDCO mooted an idea of setting up of SEZ over an area of 4377 Ha in Navi Mumbai in the year 2000, which was concurred/recommended by the Government of Maharashtra (GoM) & a proposal was put up to GoI for approval.

GoM declared CIDCO as Nodal Agency to set up SEZ in Navi Mumbai.

The GoI accorded approval-in-principle to GoM/CIDCO’s proposal of setting up Navi Mumbai Special Economic Zone over an area of 4377 Ha in February 2002.

Sr.No. Node (Navi Mumbai) Area Proposed (Ha) 1 Dronagiri 1777 2 Ulwe 400   3 Kalamboli    350   4 RPZ  1850 Total 4377

The GoM directed CIDCO to implement the NMSEZ project through Joint Sector Venture & further directed that the Strategic Partner/Investor to be selected shall hold majority stake. (GR No.CID/3302/715 Pra.Kra 93/UD-10 dt.11.09.2002).

As per the directives of the Govt. of Maharashtra, CIDCO through Global bidding process selected a Preferred Bidder/Strategic Investor Consortium, which formed a company named M/s. Dronagiri Infrastructure Pvt. Ltd. (DIPL) & the said company is registered under Companies Act 1956.

DIPL & CIDCO together have created/established a Special Purpose Company (SPC) in the year 2004 named M/s. Navi Mumbai SEZ Pvt. Ltd. (formerly known as M/s. Navi Mumbai SEZ Development Company Pvt. Ltd.) with 74% & 26% stakes in the SPC, respectively.

Shareholders Agreement executed

Development Agreement executed

As per Development Agreement NMSEZ project area is 2140 Ha.

Sr.No. Node (Navi Mumbai) Area Proposed (Ha) 1 Dronagiri 1390 2 Ulwe 400 3 Kalamboli 350 Total 2140

1.1) The SPC has the right to plan, design, construct, market, operate & maintain, administer & manage the Navi Mumbai SEZ. SEZ will under control of Development Commissioner. 1.2) CIDCO has uptill now handed over 1680 Ha NMSEZ project area to the company detailed below.

Sr.No. Node Area (Ha) 1 Dronagiri Ph-I 450 2 Dronagiri Addl. Ph-I 800 3 Kalamboli 350 4 Ulwe 80 Total 1680

1.3) The SPC is entitled to the status of Special Planning Authority under Clause No.40 of MRTP Act 1966.