5 Things About Delhi-Mumbai Industrial Corridor
According to a report by The Economic Times, among the companies that have shown interest in buying land parcels at the $100-billion industrial corridor are world's biggest furniture manufacturer Ikea, South Korea's second-largest automobile manufacturer Kia Motors and Land & Housing Corp, Chinese real estate company Country Garden and China Railway Construction and German wind turbine manufacturer Senvion.
Large-size investment in the corridor will give India a major push towards infrastructural growth, leading to major economic benefits. According to the DMIC website, the programme will “provide a major impetus to planned urbanisation in India with manufacturing as the key driver”.
A look at the key features of the infrastructure project, termed as the world's largest:
DMICDC Was Formed As SPV To Develop DMIC
The DMICDC was incorporated in January 2008 as a Special Purpose Vehicle (SPV) to develop the corridor.
Centre Owns Only 49% Stake in DMIC
The Centre holds 49 per cent stake in the project while the Japan Bank of International Corporation holds a 26 per cent stake. Other stakeholders include Life Insurance Corporation of India (one per cent), India Infrastructure Finance Company (4.1 per cent) and Housing and Urban Development Corporation (19.9 per cent).
DMIC Will Be Developed In Three Phases
The project, which aims to “develop new industrial cities as smart cities and converge next generation technologies across infrastructure sectors” was approved by the Union Cabinet in 2011, and is expected to be finished in three phases over nine years. While the work on the first phase is expected to be complete by 2025, the second phase will end by 2032.
DMIC Will Cover Four Industrial Regions- Gujarat, Maharashtra, Uttar Pradesh & Madhya Pradesh
The four industrial cities under the project are the Dholera Special Investment Region in Gujarat, the Shendra Bidkin Industrial Park & Dighi Port Industrial Area in Maharashtra, the Integrated Industrial Township in Greater Noida, Uttar Pradesh, and the Vikram Udyogpuri in Ujjain, Madhya Pradesh.
Two Airports, Solar Plant, Mass Rapid Transit System Planned
Under the projects are planned 12 early-bird projects, eight investment regions, two mass rapid transit system projects and two airports along with one solar plant.
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