Reliance Industries (RIL) had entered into MOU with the Government of Maharashtra in February 2018 to develop a Global Economic Hub consisting of world-class integrated digital and services industrial area with global partnerships.

Further to this, RIL's wholly owned subsidiaries have completed the registration of sub-lease deeds for about 3,750 acres of land along with the associated development rights for a period of 43 years for an aggregate consideration of Rs. 13,400 crore from Navi Mumbai IIA, in which CIDCO holds 26%. The sub-leased land has to be used for development of an integrated industrial area in terms of Maharashtra Industrial Policy, 2013.

RIL has proven track record of developing large integrated industrial complexes at Hazira, Jamnagar and Dahej, fast growing integrated smart city in Jhajjar district of Haryana, a state-of-the-art convention centre and modern office space at Bandra-Kurla Complex, Mumbai.