Chicago-based consultant McClier, a part of the US-based Aecom group of companies with an annual turnover of $1 billion, has been appointed by the City and Industrial Development Corporation (Cidco) to prepare the master plan for the Navi Mumbai special economic zone (SEZ).
Cidco vice-chairman and managing director Anil Kumar Lakhina said: "We have invited bids for the master plan of the zone, and have received over 28 applications from major global planners including Nikken Sekkei, Mott McDonald, JTC, Townland Consultants, HOK, Gensler and McClier. McClier's task would involve creating a master plan to include manufacturing, trading, services, logistics and multi-modal transportation."
The business plan for the SEZ has already been prepared by an Arthur Andersen consortium and the bid process management for selecting strategic investors, equity investors and anchor tenants for the Navi Mumbai project has already begun, a Cidco spokesperson said.
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The business plan components include, demand analysis and competitive positioning, key regulatory and policy issues, project development strategy, capital structuring plan of the special purpose vehicle, organisation and manpower structure, asset and equity valuation and financial model and plan for the SEZ.
Key enablers identified for the SEZ from across the world were identified from Shenzhen, Jebel Ali, Philippines, Singapore and Mauritius for ensuring the success of the SEZ.
The SEZ project is to be developed over an area of 50 sq km. High export and foreign direct investment potential industries, such as biotechnology, pharma, garments, electronics, agriculture and food processing are targetted to be housed in the zone.
Along with these, trading and logistics, gems and jewellery, machinery, auto-ancillaries, toys, sports goods, plastics, leather products, cosmetic and toiletries are also being targetted.
Cidco hopes that 218 units, with an annual export potential of $2.2 billion, would be established by 2007-08. Investments of $1.9 billion (Rs 9600 crore) is anticipated, and a total of 1.55 lakh jobs are expected to be created.
The estimated expansion of the SEZ is expected to cover 845 units by 2014-15 with an increased export potential of $8.7 billion annually, investments of $ 7.9 billion, FDI of $3.8 billion and direct employment for about 5.34 lakh.
The project cost is estimated at approximately $1.2 billion, with land and buildings being contributed by Cidco, at $200 million (Rs 1000 crore).
A special purpose company to be formed with a strategic partner, which would enjoy a majority stake and management control, is being envisaged. For this, Cidco hopes to rope in a global conglomerate with an equity funding ability of about $150 million with proven development experience and marketing ability.