A special purpose company is to be formed with the strategic partner having majority and management control. Cidco is looking for a strategic partner who has a global presence, financial strength with large equity funding ability (about $150 million), having development experience and good marketing ability.
Cidco vice-chairman and managing director Anil Kumar Lakhina said that the company had invited bids for the master planning of the zone with over 28 applications from major global planners like HOK, Nikken Sekkei, Mott McDonald, JTC, Townland Consultants, McClier and Gensler. The rigorous selection process, which began in September 2001 culminated in the selection of McClier. He added that McClier’s task would be to create a master plan to include manufacturing, trading, services, logistics and multi-modal transportation. He added that the SEZ is also expected to infuse growth and dynamism into the industrial estates located in the Mumbai region.
The SEZ project is to be developed over an area of approximately 50 sq kms. Industries having a high potential for exports and FDI potential like biotechnology, pharma, garments, electronics, agriculture and food processing industries are to be targeted. However, trading and logistics, gems and jewellery, machinery, auto ancillaries, toys and sports goods, plastics, leather products, cosmetic and toiletries are also being targeted.
It is expected that by the year 2007-2008, approximately 218 units will be established, having an export potential of $2.2 billion annually, investments of $1.9 billion (Rs 9,600 crore) with FDI of $0.9 billion. Direct employment will be approximately 1.55 lakh.
This is expected to expand to 845 units by the year 2014-2015 having an export potential of $8.7 billion annually, investments of $7.9 billion (Rs 39,283 crore) and FDI worth $3.8 billion.