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Mumbai, May 10 (PTI) The Mahindra Group, Nirmal Lifestyle and Akruti are shortlisted by the Mumbai Metropolitan Region Development Authority (MMRDA) to set up its ambitious Rs 5,000-crore innovation park, and will make presentations to the state government shortly, a MMRDA official said today. The Mahindra Group has been short-listed for the project along with two others -- Nirmal Lifestyle and Ackruti -- for the project. Both these entities are scheduled to make their presentations after the Mahindra Group, the official said. MMRDA is the nodal agency responsible for planning the city''s metropolitan area development as well as the urban area on the mainland. "In all, 11 bidders had shown interest in the project and we have short-listed three," MMRDA''s Joint Project Director Dilip Kawathkar told PTI here. MMRDA has proposed to develop an innovation park of global standards through the public-private partnership (PPP) route over an area of about 5,000 acres. The innovation park will be a confluence of research, education and industry, and will house about 25,000 scientists, Kawathkar said. In November last year, the authority had invited Expression of Interest for the project. Of the 11 bidders who had applied, the authority then short-listed three. MMRDA will contribute 26 per cent equity and share revenues in proportion to its equity and will facilitate clearances and town planning compliances, Kawathkar said. "The bid-winner will have to arrange for debt and the balance equity," he said.
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