Nitin Gadkari has already made it clear that the Trust will not give its land to builders and investors
The contentious Mumbai Port expansion plan, the modernisation, unlocking of 900 acres of land and development of eastern waterfront is expected to get the Centre's nod soon.
The Union Shipping ministry will make a comprehensive presentation to Prime Minister Narendra Modi on August 16 to seek his views on the Mumbai Port Trust's eastern waterfront development and the new land policy. Thereafter, the cabinet will approve the plan which is expected to transform Mumbai's landscape. The new land policy will enable Mumbai Port Trust to use its land even for non-port related activities. Besides, land stuck in encroachments by slums will be redeveloped as well.
The Union minister of Shipping Nitin Gadkari told DNA, "Plans are ready for a makeover. Mumbai Port Trust will make a presentation to the PM on August 16.''
Gadkari has already made it clear that the Trust will not give its land to builders and investors.
The eastern waterfront project, to be developed between Wadala and Ferry Warf in the South Central Mumbai, will develop land double the size of Marine Drive, an open ground which will be five times bigger than the existing Oval Maidan, a structure taller than Dubai's iconic 163-floor Burj Kalifa, floating restaurants, new marinas, promenades, public parks, cycling tracks, and construction of a cruise terminal.
Moreover, housing for citizens living in the Mumbai Port Trust areas is also being proposed. Nearly 900 of the total 1,800 acre land, which is in Mumbai Port Trust's possession, will be opened up for the various projects, including the allied port operations.
The investment during the first phase is estimated to be at Rs 4,000 to Rs 5,000 crore. Mumbai Port Trust will build a central government complex which will be sold to the government at the market price. The funds generated through this sale will be used for infrastructure development.
The project is expected to kick start within five months after the cabinet approval, a Trust official said.
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