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CIDCO’S THEME CITY PARK KINDLES GLOBAL INTEREST

cidcoInitially worried about lukewarm response from investors to its infrastructure projects, CIDCO now has some reason to feel happy. The state government’s infrastructure arm has got four offers in response to the expression of interest it invited for the theme city project, estimated to cost Rs 5,000 crore, near Kharghar in Navi Mumbai. Last week it was reported that some of the major infrastructure projects proposed by CIDCO were on slow track due to the economic downturn. But CIDCO officials are now upbeat about the theme city project. CIDCO has got offers from Indiabulls Real Estate, a consortium of two big infrastructure and real estate players GVK Development Projects and HCC, Bhushan Steel, and Tishmen Speyer, the leading US real estate firm that recently bought prime MetLife properties at Manhattan. The USP of this project is that CIDCO has not prepared any blueprint itself. The bidders have to offer their proposals to develop the theme city on a 250-acre plateau called Pandavkada in Kharghar. The location for the theme city boasts of a few other world-class project in its vicinity and probably the reason why a dozen companies, including those who have put in their offers, have evinced interest.

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