News

14 March 2016

India Infoline

Anchor investors for DMIC to be invited by August

Investments from Japanese, German and South Korean companies would be sought, MD & CEO of DMICDC, Alkesh Sharma has been quoted as saying by the financial newspaper.

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

Investments from Japanese, German and South Korean companies would be sought, MD & CEO of DMICDC, Alkesh Sharma has been quoted as saying by the financial newspaper. 

During the recently concluded 'Make in India' week, DMICDC had received a number of inquiries from potential investors, says the paper.   

Land measuring up to 500 acres will be made available for the industrial use, reports the daily. 

The new industrial zones are proposed at Dholera in Gujarat, Vikram Udyogpuri in Madhya Pradesh, Shendra-Bidkin in Maharashtra and Gurgaon in Haryana.

Each zone has a special character, which would be leveraged for industrial growth, Sharma told the paper. 

Armament and aerospace companies would be preferred in Dholera, where 400-500 acres of land in one parcel can be provided, he says. 

In Shendra-Bidkin, land can be provided for automobile manufacturing, according to Sharma. This site can draw synergies from Aurangabad auto hub, which is in close vicinity, he adds.

The Railway Ministry is also in the process of awarding tenders for laying of the lines for the dedicated freight corridor, Sharma told the daily. 

The tenders would be awarded by March and the freight trains will start operating 2019, he adds. 

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

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

The funding of US$10 billion from Japan International Cooperation Agency (JICA) will be used for setting up metro systems, which will connect Ahmedabad with Dholera and Gurgaon to Bawal.