Ambani plans to build Navi Mumbai megacity

After Jio taking the telecom industry by storm, Mukesh Ambani-led Reliance Group now sees long-term promise in a new megacity. It’s working on a blueprint for setting up a megacity near Mumbai, which is expected to attract investments of up to $75 billion in the next decade. Since the project has received approval as a special planning authority, Reliance Industries (RIL) will not only be developing the project, but also run the city administration to cut down on red tape, transaction time, and cost of the project dramatically, said a source close to the development.