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Budget 2012-13 reveals that Delhi-Mumbai Industrial Corridor to get 4.5 billion dollars from Japan

New Delhi, Fri, 16 Mar 2012 ANI

New Delhi, Mar.16 (ANI): Finance Minister Pranab Mukherjee on Friday revealed that Japan has agreed to provide an additional 4.5 billion dollars to India for the Delhi-Mumbai Industrial Corridor (DMIC) project.


Presenting the general budget for fiscal 2012-13, Mukherjee said that in September 2011, the government had approved central assistance of Rs. 18,500 crore for a period of five years for the project.


The Delhi-Mumbai Industrial Corridor is a mega infra-structure project worth 90 billion dollars with the financial and technical aid from Japan, covering an overall length of 1483 kilometers between Delhi and Mumbai.


A MOU was signed in December 2006 between Vice Minister, Ministry of Economy, Trade and Industry (METI) of Government of Japan and Secretary, Department of Industrial Policy and Promotion (DIPP).


A final project concept was presented to both Prime Ministers during Premier Abe's visit to India in August 2007.


The multi-modal high axle load dedicated freight corridor (DFC) between Delhi and Mumbai will pass through the six States - Uttar Pradesh, the National Capital region of Delhi, Haryana, Rajasthan, Gujarat and Maharashtra, with end terminals at Dadri in the National Capital Region of Delhi and Jawaharlal Nehru Port near Mumbai.


Distribution of length of the corridor indicates that Rajasthan (39 percent) and Gujarat (38 percent) together constitute 77 percent of the total length of the alignment of freight corridor, followed by Haryana and Maharashtra 10 percent each and Uttar Pradesh and National Capital Region of Delhi 1.5 percent each.


Once completed, this corridor will be equipped with an array of infrastructure facilities such as power facilities, rail connectivity to ports en route etc.


Approximately 180 million people, 14 percent of the population, will be affected by the corridor's development. The project incorporates nine mega industrial zones of about 200-250 sq. km., high speed freight line, three ports, and six airports; a six-lane intersection-free expressway connecting the country's political and financial capitals and a 4000 MW power plant.


Several industrial estates and clusters, industrial hubs, with top-of-the-line infrastructure would be developed along this corridor to attract more foreign investment.


Funds for the projects would come from the Indian government, Japanese loans, and investment by Japanese firms and through Japan depository receipts issued by the Indian companies. (ANI)


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