MMRDA invites bids for development of its mega project – Innovation Park

The Mumbai Metropolitan Region Development Authority (MMRDA) has invited bids from the interested parties to develop an Innovation Park on par with global standards through Public-Private Partnership in and around Mumbai Metropolitan Region over an area of about 5000 acres. The Innovation Park will be a confluence of Research, Education and Industry and will house about 25,000 scientists from all over the world.

The first of the many pre-conditions – while submitting expression of interest – requires interested parties to submit conceptual business plan along with details for development of the Innovation Park in partnership with MMRDA and also provide a broad outline of the focus areas with a definite time frame for its development. The Authority will contribute 26% of equity in the project and will share revenue in proportionate to its equity and expects the interested parties to arrange for debt and balance equity. The Authority will facilitate clearances and town planning compliances as per the rules.

Inviting bids for the development of an Innovation Park has a great relevance to the recent visit to France by Mr.Ratnakar Gaikwad, Metropolitan Commissioner, MMRDA. During his visit to the Innovation Park in Sophia Antipolis, the Metropolitan Commissioner secured an assurance from Mr.Litaffe, the Director of the Park, “who showed more than keen interest to help us set up the Innovation Park in India which could well be the biggest in Asia. They will send 20 scientists to help the Vision Group formed by MMRDA”, said Mr.Gaikwad. “Nobel laureates and renowned scientists from more than 125 countries are working with the Park in Sophia Antipolis and it makes business worth more than 3 billion USD every year”, continued Mr.Gaikwad.

The vision group for the proposed Innovation Park consists of visionaries such as Mr.Rajendra Jagdale, Director General, Science and Technology Park, Pune; Mr.Arun Nigwekar, former Director UGC; Mr.Anand Mahindra, Mahindra & Mahindra; Mr. Shirish Sankhye, Mackenzie; and Mr.Ramakrishnan, former IAS officer.

The interested parties are required to submit their claims for development of Innovation Park on or before November 20, 2009 till 5.00 p.m. in a sealed envelope super scribing “EOI for Innovation Park” to Shri.S.C. Deshpande, Joint Project Director (Town Planning), 2nd Floor, MMRDA Building, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051.