Mukesh Ambani

The state cabinet has paved the way for converting the Mukesh Ambani-promoted Navi Mumbai Special Economic Zone (NMSEZ) into an integrated industrial area (IIA). It has asked the Chief Secretary to form a panel to decide operational aspects, including a penalty that promoters need to pay the government. The governing body and one of the promoters for the Navi Mumbai SEZ, the City Industrial Development Corporation (CIDCO), had forwarded a proposal for conversion before the Cabinet which agreed in principle to start the process, but decided to give the final nod after considering the CS’s report.