Mukesh Ambani’s New Smart City Project Experiences Significant Expansion

Model Economic Township Limited (MET City)

The smart city near Delhi-NCR, supported by Mukesh Ambani, is experiencing significant development and expansion. This burgeoning urban area, strategically positioned in Haryana’s Jhajjar district close to Gurugram, a major economic hub within the national capital region, is being constructed by Model Economic Township Limited (MET City), a subsidiary of Reliance Industries. As the richest man in India and Asia, Mukesh Ambani leads Reliance Industries, India’s most valuable company, with a market cap of Rs 1,983,000 crore. Under his leadership, the company operates across various sectors through its subsidiaries.

This new greenfield city not only supports major corporations like Nihon Kohden, Panasonic, Denso, and T-Suzuki but has also attracted significant investment, reflecting robust growth in its recent fiscal year ending March 2024. The total booking value for MET City reached Rs 1,913 crore. In the fiscal year 2023-24, plot bookings in MET City were recorded at 1,079, with the residential segment contributing Rs 1,004 crore and the industrial segment adding another Rs 896 crore. With over 8,250 acres, MET City integrates residential and industrial spaces, promoting a versatile urban environment.

Adding to its industrial capacity, the smart city now hosts a new weapon manufacturing facility operated by Saab, where the Carl-Gustaf M4 weapon will be produced. This factory will utilise advanced technologies, including the latest sighting systems and sophisticated carbon fibre winding techniques. The production at this facility will primarily serve the Indian armed forces, with potential applications extending to international markets as components could be integrated into other users’ systems. This development highlights the smart city’s strategic importance and growing industrial capabilities near Delhi-NCR, backed by Mukesh Ambani’s vision and leadership.

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