Mukesh Ambani to build a mega city: Reports
This is big. Mukesh Ambani, India's richest man, is planning to build a mega city near Mumbai. The city will accommodate about 5 lakh people.
As per early reports, the mega city will need an investment of USD 75 billion. Reliance Industries will seek investment from individual investors and others.
The mega city will be a game-changer, analysts say. It will be on the lines of Singapore, complete with an airport, and sea port. A whole lot of facilities will be available in it. It will be a part of Reliance's projects.
The government has given Reliance a license to administer the city privately. So, there won't be any political interference, elections, etc. The government agencies will act as regulators but beyond that, there won't be any interference.