Sixteen international urban planning consultants have been shortlisted this week by the City and Industrial Development Co-operation (Cidco) for the development of the Rs 4,000 crore special economic zone (SEZ) project at Dronagiri in Navi Mumbai.
Cidco has invited these global urban planners to prepare the master plan for the SEZ, and the bids will open at the end of the month. The public sector outfit received expression of interest from 28 consortiums, and shortlisted the 16 based on their international experience, and having Indian presence.
Cidco will not have majority holding in the project, though the exact percentage has yet to be worked out. Sources however, stated that Cidco's share would be limited to its contribution in terms of the land, 4,377 hectares. Cidco being a public sector organisation, would have to take the back seat, said sources. Foreign strategic partners would not be comfortable with a public sector company having majority holding, they added.
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Among those shortlisted include Urbacon Developments(UK) Ltd with its consortium partners Kohn Pedersen Fox Associates and Pell Frischmann Group; Gensler (UK); Doxiadis Associates (Greece) with partner TCE Consulting Engineers Ltd; Nikken Sekkei International Ltd (Singapore) with Hafeez Contractor; and HOK Group, the world's largest architecture firm, to name a few.
Cidco general manager SEZ project, Suhas Thakar, said: "The 16 consultants shortlisted are all 'Who's Who' among the international urban planners, having undertaken projects of this magnitude."
Cidco appointed Arther Andersen, Crisil and Chesterton Meghraj,earlier in August, to revalidate the report prepared by the public sector corporation on the SEZ project in Mumbai. Crisil is currently revalidating the report which will be finalised within the next fortnight.
A key issue that the developer would have to address is the need to relocate the inhabitant villages within the SEZ. According to a SWOT analysis prepared on the SEZ, the project is further not seen as a contigous development but is spread out in three different parcels. Moreover, as the proposed transport network -- Sewri-Nhavi Sheva Sea Link project -- will take time, and as such the integration of the SEZ to the city will be only through the existing links.
The SEZ will serve as a platform for transnational companies across the globe which can relocate their industrial or service units to Navi Mumbai and perhaps even compete with top free trade zones like Jebel Ali in Dubai. However, this is provided that the infrastructure and tax exemptions granted to the "deemed foreign country within Mumbai" have to offer at least that available at Jebel Ali, said an industry expert.
Cidco sources maintain that the SEZ project is financially viable and could offer an international rate of return of more than 30 per cent.