Raigad–Pen Growth Centre Announced; Creation of a New Business District
The Raigad–Pen Growth Centre will be developed around 15–20 kilometres from the Navi Mumbai International Airport. The announcement was made in Davos after obtaining the required approvals over the past three to four years. This marks the declaration of the first city in Third Mumbai.
The project will follow a plug-and-play, ready-to-start model, enabling enterprises to begin operations immediately. It will be developed as a Public–Private Partnership (PPP) involving the State Government, MMRDA and private partners.
A new business district will be created on the lines of Mumbai’s Bandra–Kurla Complex (BKC), offering high-paying jobs, Global Capability Centres (GCCs) and a strong fintech ecosystem. Facilities will be designed on a “walk-to-work” concept.
Following the announcement, MoUs worth approximately ₹1 lakh crore have been signed. Leading global companies have shown strong interest, including Havanna Group (Republic of Korea), SSB Group (Switzerland), Ensar, FedEx (USA), RiverRecycle (Finland), MGSA Group (Dubai), Spaces & Mapletree (Singapore), GNV and IndoSpace Parks, and Tribeca Developers (USA). The Chief Minister said these investments will help build a world-class city in Third Mumbai.
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