India, May 31 -- Nearly a year after Mumbai's Coastal Road was opened to traffic, the Brihanmumbai Municipal Corporation (BMC) has selected Reliance Industries Limited (RIL) to develop 53 hectares of reclaimed open space along the road. The company will take at least three to four months to prepare a plan, following which work on realising new open spaces along the road from Priyadarshini Park to Worli will commence, said sources in the civic body.

On Thursday, BMC commissioner Bhushan Gagrani signed the letter of intent (LoI) outlining terms of the deal between BMC and RIL.

"Reliance was one of the companies that evinced interest in developing open spaces along the entire stretch of the Coastal Road," said Gagrani.

Another official fr...