Shareholders’ Agreement Between MMRDA and Raigad-Pen Growth Center

Chief Minister Devendra Fadnavis present at the signing

Mumbai, April 2026 : A shareholders’ agreement was signed between the Mumbai Metropolitan Region Development Authority (MMRDA) and the Raigad-Pen Growth Center in the presence of Chief Minister Devendra Fadnavis.

The agreement signing ceremony took place at Sahyadri State Guest House. Those present included Municipal Commissioner Dr. Sanjay Mukherjee, Additional Chief Secretary (Energy) Abha Shukla, Additional Chief Secretary to the Chief Minister Lokesh Chandra, Principal Secretary Dr. Shrikar Pardeshi, Industries Department Principal Secretary P. Anbalagan, Managing Director Vijay Singhal, the Chief Minister’s Advisor on Investment and Policy Kaustubh Dhavse, and Nikhil Gandhi of Orange City Group.

Key developments under the agreement:

• Formation of Raigad Pen Growth Center Ltd.
• Proposal for an integrated township policy
• Development as a smart city
• Expansion in Pen taluka of Raigad district
• Connectivity with major port areas
• Creation of a self-reliant township

The project is expected to boost regional development and strengthen infrastructure in the Raigad region by integrating urban planning with economic growth initiatives.