Reliance plans Rs 2,000 cr IT park

After committing Rs 25,000 crore (Rs 250 billion) for a mega retail rollout, Reliance Industries Ltd is planning to set up an information technology Park in Navi Mumbai at an estimated cost of Rs 2,000 crore (Rs 20 billion).

RIL is developing this project on 450 acres of land owned by Nocil, a part of the Reliance group.

"The company is in the process of securing necessary approvals from the Maharashtra Industrial Development Corporation to set up this project. The company is also developing its headquarters in the same area," sources close to the MIDC said.

They added that RIL had finalised the master plan for the IT park, which is likely to generate at least 1.2 million jobs in the next five years. The IT park will be a part of Dhirubhai Ambani Corporate City, the proposed headquarters of the company.

When contacted, RIL executives declined to comment on the issue. "In the initial phase, the Reliance group will set up units in this proposed project. Later, more companies will follow suit," sources said.

They said RIL would have to obtain a no-objection certificate from the MIDC to convert the Nocil land, which was meant for chemical production, for developing it as a dedicated IT city.

Reliance is developing a special economic zone in Navi Mumbai near the Jawaharlal Nehru Port Trust. Sources said the proposed Navi Mumbai SEZ would also have IT units operated by other companies.

"The company is in the process of acquiring necessary land at Dronagiri area near Navi Mumbai for the SEZ. The company has not finalised the details of units operating in the proposed SEZ," sources said.