Maharashtra Maritime Board (MMB) has rejected Reliance Industries Ltd’s (RIL) logistics & ports arm’s move to get more time for its proposed Rewas Port project, an hour’s sail from Mumbai’s Gateway of India. A final decision by the Maharashtra government, as it is a state subject, is awaited. The government plans to take back the port from the private developer.
In 2018, Reliance Logistics & Ports, which holds a 55% stake in special purpose vehicle Rewas Port Ltd, or Rewas-Aware Port, had moved an application to get ‘zero date’ for the port project, which was not approved by MMB in its Board meeting held this year.
Zero date is the date from which construction can commence for any infrastructure project to calculate total number years taken for construction as well as for year wise sharing of revenue. Read More