An Memorandum of Understanding (MOU) was signed between Chinese construction giant China Fortune Land Development Co Ltd (CFLD) and Cidco with the objective of creating an integrated township in Navi Mumbai. The two companies plan to focus on the Navi Mumbai International Airport Influence Notified Area (NAINA).
According to the Cidco vice-chairman and managing director Bhushan Gagrani, the CFLD has offered to develop an integrated township through a Public Private Partnership (PPP) mode in NAINA. CFLD would plan, invest, build and operate public facilities such as city infrastructure, sewage disposal, heat power supply and schools and hospitals. The CFLD president Jerry Zhao said his company is focusing investments in Maharashtra because of the conducive growth atmosphere that the state offers.