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'Industrial cities under DMIC may attract $100 bn investment'

Last Updated: Wednesday, May 8, 2013 - 15:55

New Delhi: Industrial cities to be developed as part of the DMIC project are expected to attract investment of about USD 90-100 billion over the next thirty years, Parliament was informed on Wednesday.

"It is expected that the development of industrial cities with world class infrastructure would involve/attract an estimated investment of around USD 90-100 billion over the next thirty years,"
Minister of State for Commerce and Industry D Purandeswari said in a written reply to the Rajya Sabha.

During the first phase of of Delhi-Mumbai Industrial Corridor (DMIC) project, the government has approved financial assistance of Rs 17,500 crore at an average of Rs 2,500 crore per city (subject to a ceiling of Rs 3,000 crore per city) for the development of seven industrial cities.

The seven cities include Dadri-Noida-Ghaziabad Investment Region, Manesar-Bawal Investment Region, Khushkhera-Bhiwadi- Neemrana Investment Region and Ahmedabad-Dholera Investment Region.

She also said the project would generate employment to about 2.8 crore people.

"The employment needed to create the estimated value of output as per perspective plan of DMIC is estimated to be 9.1 million in 2020, 17.5 million in 2030 and 28.7 million in 2040," she added.

Further, the Minister said the process of land acquisition is in progress in the states of Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra and master planning has started in Uttar Pradesh.

"The contribution of the State Government will be in the form of land...The cities would be launched with the development of townships of 25-50 sq km which are envisaged to be completed by the end of 2019," she said.

Three airports - in Rajasthan and Gujarat- are also proposed under the DMIC project.

DMIC is aimed at creating mega industrial infrastructure along the Delhi-Mumbai Rail Freight Corridor, which is under implementation. Japan is giving financial and technical aid for the project, which will cover seven states totalling 1,483 km.


First Published: Wednesday, May 8, 2013 - 15:55
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