Major investors from the UAE have been invited to participate in various infrastructure projects in the USD 100 billion Delhi Mumbai Industrial Corridor (DMIC) project, according to the new Indian Ambassador in Dubai.
"We are talking to major UAE investors, including the Abu Dhabi Investment Authority (ADIA), for potential investment in various infrastructure projects coming up as part of the DMIC development," said T. P. Seetharaman, the Indian Ambassador to the UAE. It already has financial support from Japan.
The mega-development will be divided into non-commercial trunk infrastructure and commercial public-private partnership (PPP) projects.
"This requires investors with deep pockets," explained the Indian Ambassador adding that projects would include water supply, roads and public transports, sewerage and drainage systems, power and integrated township development.
The billion dollar project, conceived in mid-2006 and launched in 2007 includes developing seven cities within 150 kilometers on both sides of the 1,483-kilometers long freight corridor, which is mostly aligned parallel to the existing railway tracks.
Expected to be complete by 2019, it will pass through six Indian states, Uttar Pradesh, National Capital Region (NCR) of Delhi, Haryana, Rajasthan, Gujarat and Maharashtra.
According to the master plan, the break up of the occupation of the freight corridor between Delhi and Mumbai comprises Rajasthan at 39 percent, Gujarat at 38 percent, Haryana and Maharashtra at 10 percent each and Uttar Pradesh and the NCR of Delhi at 1.5 percent each
Delhi Mumbai Industrial Corridor Development Corporation Ltd (DMIC) was incorporated to establish, promote and facilitate the development of DMIC. It undertakes various project development activities, feasibility studies, master plans preparation and development for the proposed townships in collaboration with participating state governments.
© Zawya 2014
