The Hindu Business Line : Cabinet approves Delhi-Mumbai Industrial Corridor

New Delhi, Aug. 16 The Delhi-Mumbai Industrial Corridor project, which is to be jointly developed by India and Japan, received approval from the Union Cabinet here on Thursday.

The total investment is expected to be in the region of $90-100 billion, most of which would be financed through private funding.

Briefing newspersons after the meeting, the Minister for Parliamentary Affairs and Information and Broadcasting, Mr Priya Ranjan Dasmunsi, said that a separate corporation, Delhi Mumbai Industrial Corridor Development Corporation, would be set up to implement the project.

The project is to see six investment regions and industrial areas coming up during the first phase.

The six investment regions to be covered include the Manesar-Bawal region in Haryana, Bharuch-Dahej region in Gujarat, Pitampura-Dhar-Mhow investment region in Madhya Pradesh and Igatpuri-Nashik-Sinnar region in Maharashtra. Official sources said that each investment region would be of more than 200 sq. km.

The six industrial areas include Meerut-Muzafarnagar region in Uttar Pradesh, Jaipur-Dausa in Rajasthan, Neemach area in Madhya Pradesh and Vadodara-Ankleshwar in Gujarat.

The Cabinet approval for the project has come a week before the Japanese Prime Minister, Mr Shinzo Abe, is scheduled to begin an official visit to India. It was during the Japan visit of the Prime Minister, Dr Manmohan Singh, that India and Japan signed a memorandum of understanding for setting up a Delhi-Mumbai Industrial Corridor.

The construction activity for the project is expected to start in the financial year 2008-09 and be completed by 2012.

The Union Cabinet also gave its approval for concluding a bilateral investment promotion and protection agreement with Macedonia.

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