CIDCO signs memorandum with Chinese developers for Navi Mumbai township project

Chief Minister Devendra Fadnavis on Wednesday said that the joint collaboration between CIDCO and CFDL would pave way for building state of the art integrated township in Navi Mumbai. This was a Memorandum of Understanding (MoU) was signed between City and Industrial Development Corporation (CIDCO) and China Fortune Land Development Company (CFLD).

CIDCO on Wednesday entered into a MoU with CFLD for creating a strategic relationship in order to promote economic and urban development in Maharashtra. Bhushan Gagrani, MD, CIDCO and Wayne Liu, president, India West Coast Region Business, CFLD signed the MoU in presence of Chief Minister Devendra Fadnavis and CFLD President international, Jerry Jhao.

Fadnavis expressed his confidence that this MoU would lead to immediate undertaking of project. He said that CIDCO has expertise in building new townships and has so far created Navi Mumbai, New Aurangabad and New Nashik which would get a boost with this MoU with CFLD which is internationally acclaimed.

Zhao said that the MoU would usher in boost of economy of Maharashtra and this was just a beginning. He said that CFLD has a sales revenue worth 11 billion US dollars and total assets exceeding 26 billion USD. He said that CFLD would leverage its experience of comprehensive urban planning and industrial promotion systems so that urban development is driven by taking advantage of industrial development. Principal secretary to Chief Minister Praveen Singh Pardeshi, CIDCO joint managing director Rajendra Chavan and other officials were also present while the MoU was being signed.