The Hindustan Construction Company has signed an MoU with the Gujarat Government to develop a ‘Water Front City’ at Dholera, located in the Delhi-Mumbai industrial corridor, with an investment of Rs 40,000 crores. The development would replicate the Lavasa project, a 12,5000-acre hill town which HCC is developing near Pune.

According to sources, the Dholera project would span over 12 years and funding would be through internal accruals, private equity and bank assistance. A new city will be raised over 4,000 acres in Dholera Special Investment Region (SIR) located at the Gulf of Cambay, about 129 km from Ahmedabad..

The development would be in accordance with the provisions in the Special Investment Region Act 2009, township policy of the Gujarat Government. The under-construction Lavasa will host a complement of global leaders in hospitality, tourism, education, healthcare, business research and industry.