Policy

DMIC to invite anchor investors by August

Rahul Wadke Mumbai | Updated on January 20, 2018 Published on March 13, 2016

Land up to 500 acres to be made available for projects along corridor



The Delhi Mumbai Industrial Corridor Development Corporation Ltd (DMICDC) plans to invite anchor investors, to set up units in four industrial zones, by August.

Investments from Japanese, German and South Korean companies would be sought. During the recently concluded Make in India week, DMICDC received a number of inquiries from potential investors.

Land measuring up to 500 acres will be made available for industrial use. The new industrial zones are Dholera in Gujarat, Vikram Udyogpuri in Madhya Pradesh, Shendra-Bidkin in Maharashtra and Gurgaon in Haryana.

Managing Director and CEO of DMICDC, Alkesh Sharma, told BusinessLine that each zone has a special character, which would be leveraged for industrial growth. Armament and aerospace companies would be preferred in Dholera, Gujarat, where 400-500 acres of land in one parcel can be provided. In Shendra-Bidkin, land can be provided for automobile manufacturing. This site can draw synergies from Aurangabad auto hub, which is in close vicinity, he said. Sharma said that the Rail Ministry is also in the process of awarding tenders for laying the lines for the dedicated freight corridor. The tenders would be awarded by March and the freight trains will start operating 2019. By that time the trunk infrastructure such as roads, drains and utilities would be in the place in the zones and the anchor investor would be in a position to start manufacturing,

The land use plans and business model for the zones have been formulated and would soon be placed before the board of the SPV companies running the zones for approval, he said.

The whole project is expected to cost about $90 billion, of which about $9 billion will be raised by the Centre. The remaining will be channelised through the PPP route.

The Japan International Cooperation Agency funding of $10 billion will be used for setting up metro systems, which will connect Ahmedabad and Dholera and Gurgaon to Bawal. Some funds will also be used for improving the power grid and water supply in these States, Sharma said.

Published on March 13, 2016
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