Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) representatives held a meeting with key South Korean experts and officials to talk about the creation of "Third Mumbai," part of the "Vision Mumbai 3.0" plan. South Korea is poised to take an important role in this project, prepared to invest in the development of a top-tier smart city.
The talks concentrated on a range of infrastructure initiatives, including developments focused on transit, mixed-use communities, technology parks, industrial zones, logistics centres, data hubs, fintech incubation spaces, and affordable housing solutions.
The Third Mumbai will be located within the Atal Setu impact area, featuring high-tech industries and green areas. The initiative will draw on the successful model of Incheon’s Free Economic Zone (IFEZ), which turned Incheon into a $100 billion economy through cohesive urban planning. By tapping into IFEZ's investment network and KOTRA's promotional strategies, MMRDA seeks to lure investments into logistics, transit centers, and advanced sectors while utilising AI for efficient urban management and sustainable transportation methods.
The project, referred to as Karnala-Sai-Chirner New Town (KSC New Town), is designed to convert the area into a technological hub, with the goal of establishing 65% of India's data centers. Planned assessments are expected to commence in early 2025, focusing on enhancing connectivity to reduce travel times between Mumbai and Navi Mumbai. Covering an area of 323.44 sq km and affecting 124 villages, the development emphasizes eco-friendly and sustainable practices while integrating smart city features. MMRDA will manage the project, which involves land from the Navi Mumbai Airport Influence Notified Area (NAINA) and the Khopta New Town Notified Area (KNTNA), alongside the use of GIS for planning and mapping purposes.
