First City for 'Third Mumbai' Announced: Raigad-Pen Growth Centre to Emerge

• Maharashtra CM Devendra Fadnavis announced the Raigad-Pen Growth Centre as the first city for the proposed 'Third Mumbai' at the World Economic Forum in Davos.
• The growth centre, located 15-20 km from Navi Mumbai International Airport, will be a business district developed on the lines of Bandra-Kurla Complex (BKC).
• It will operate on a 'plug and play' model, featuring global capability centres and a fintech ecosystem, and is the country's first PPP project of its kind.
• The 'Third Mumbai' vision includes an 'Edu City' with global universities, Medic City, Innovation City, and hubs for AI and cybersecurity research, aiming to be three times larger than current Mumbai.
• Connectivity will be enhanced by Coastal Road, Atal Setu, Worli-Sewri Link Road, and planned suburban rail extensions, with MMRDA as the nodal development body.

Why It Matters: Maharashtra unveils Raigad-Pen Growth Centre as the first city of 'Third Mumbai', a massive new business and education hub.