GFH Mumbai project gets highway access
Manama, October 14, 2012
The Mumbai Economic Development Zone (MEDZ), being developed by Bahrain-based Gulf Finance House (GFH) and India’s Wadhwa Group, has secured approval to link the project to the National Highway.
Direct Access approval to connect the Energy City Navi Mumbai (ECNM) and Mumbai IT & Telecom City (MITTIC) projects (together named the Mumbai Economic Development Zone) to the Mumbai - Pune Highway, considered the most important industrial corridor in India, has been acquired by the project company, said a statement.
Connection to all major utilities will also be provided via the newly acquired access channel, it said.
The MEDZ is GFH’s flagship development project in India.
“With the direct access acquired to the Mumbai – Pune Highway, one of the most vital industrial corridors in India, the Mumbai Economic Development Zone project is now set to take significant strides forward in its development. No other project in the area has this type of access, and we plan on making the most of this advantage to progress development plans,” said Chandan Gupta, managing director of the project.
“As part of our re-envisioned business strategy, we are committed to moving our existing infrastructure projects forward towards completion, and achieving successful exits from these projects for our investors. Completing acquisition of this land access, to connect directly to the main industrial corridor in India brings us one step closer to realising our goals, both for our investors and for the good of the project,” continued Gupta.
"The acquired direct connection is 60 metre in width, which is approximately similar to the main Mumbai – Pune Highway, and will allow smooth access to and from the development to the main National Highway once developed".
“The most critical piece of the project is in place now. Now we can concentrate on getting procedural permissions to kick start the project at the earliest,” said the Wadhwa Group.
“If everything goes well, the filling of the path and sales offices can start in early 2013. The acquisition of this path will give a beautiful access to the proposed cities.”
Launched by GFH in 2007 and 2008 respectively, the ECNM and MITTIC projects cover nearly 1,300 acres of prime development land at Navi Mumbai in the Indian state of Maharashtra. The two developments form core components of the wider Mumbai Economic Development Zone - a state-of-the-art mixed use development strategically located close to upcoming new Mumbai International Airport. – TradeArabia News Service