Mukesh Ambani-led Reliance Industries Limited (RIL) has acquired a 74% stake in Navi Mumbai IIA Private Ltd (NMIIA) for a transaction value of INR 1,628 crore. This strategic acquisition reflects RIL’s growing interest in infrastructure and industrial development, strengthening its foothold in the sector.
Established in 2004, NMIIA focuses on the development of an integrated industrial area in Maharashtra, a region known for its industrial growth and strategic economic importance. The remaining 26% of NMIIA is owned by the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO), making the project a significant public-private collaboration.
The acquisition positions RIL to leverage NMIIA’s infrastructure capabilities and further expand its portfolio in industrial and urban development. As Reliance continues to diversify its business operations, this move underscores its commitment to investing in large-scale, transformative projects that align with India’s industrial growth and urbanization trends.
Through this acquisition, RIL is poised to contribute to Maharashtra’s economic landscape while potentially driving innovation in industrial area development. The partnership with CIDCO adds a layer of collaboration between corporate expertise and public sector support, setting the stage for impactful infrastructure projects.
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