Mumbai special economic zone puts Raigad project on hold

Reliance Industries-promoted Mumbai special economic zone (SEZ) has put on hold, the implementation of a Rs 40,000crore multi-product SEZ on 10,000 hectare in the coastal Raigad district. Mumbai SEZ, a company pursuing the proposed SEZ, whose petition was dis missed by the Supreme Court when it refused to extend the time for land acquisition, now does not want to proceed further till the Bombay High Court decides the matter. The apex court has asked the Bombay High Court to change the bench and conduct the proceedings.

However, Mumbai SEZ may exercise an alternative option and pursue land acquisition as the permission it has received under the Bombay Tenancy Agricultural Land Act still holds. According to this act, whatever land the company has acquired so far can be transferred on its name.

Mumbai SEZ has so far acquired 1,000 hectare of non-contiguous land and thus it may have to drop the multi-product SEZ.

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