India, Japan sign agreements on Rs 360-kcr DMIC project
The Economic Times, December 29, 2009, Page 7
Our Bureau NEW DELHI
INDIA and Japan signed two agreements on Monday for implementing the ambitious Rs 3,60,000-crore Delhi-Mumbai Industrial Corridor (DMIC) project that seeks to create integrated investment regions and industrial areas across six states. The agreements include collaborating in the development of eco cities, that is cities that are environmentally and ecologically sustainable, along the corridor and setting up of a project development fund to undertake activities like master planning and feasibility studies, preparing project reports and obtaining approvals and bid process management for projects.
“DMIC is an important project and Japan has been an important partner in India’s development journey,” commerce and industry minister Anand Sharma said after the agreements were signed.
The Delhi-Mumbai Industrial Corridor Development Cooperation signed a memorandum of understanding with Jetro (in cooperation with Japan Bank for International Cooperation) for facilitating collaboration between Japanese and Indian companies from environment-related sectors and providing expertise in development and promotion of DMIC projects, including model eco cities or smart community initiatives at various locations in the DMIC region.
The DMIC project development fund will be set up with equal contribution from the governments of India and Japan. India has approved a grant of Rs 330 crore (approximately $75 million) as the country’s contribution. The Japanese component of $75 million is being provided in the form of untied loan from JBIC.
Bidding for the early-bird projects — around 24 identified by five states — is likely to begin in four-five month, DMICDC CEO and MD Amitabh Kant said. Most of the infrastructure work connected to the industrial corridor will be executed in PPP format. The DMIC, which is conceived to be developed as a global manufacturing and trading hub with emphasis on expanding the manufacturing and services base, will pass through Delhi, Rajasthan, UP and Maharashtra, Haryana and Gujarat.
The Economic Times, December 29, 2009, Page 7
Our Bureau NEW DELHI
INDIA and Japan signed two agreements on Monday for implementing the ambitious Rs 3,60,000-crore Delhi-Mumbai Industrial Corridor (DMIC) project that seeks to create integrated investment regions and industrial areas across six states. The agreements include collaborating in the development of eco cities, that is cities that are environmentally and ecologically sustainable, along the corridor and setting up of a project development fund to undertake activities like master planning and feasibility studies, preparing project reports and obtaining approvals and bid process management for projects.
“DMIC is an important project and Japan has been an important partner in India’s development journey,” commerce and industry minister Anand Sharma said after the agreements were signed.
The Delhi-Mumbai Industrial Corridor Development Cooperation signed a memorandum of understanding with Jetro (in cooperation with Japan Bank for International Cooperation) for facilitating collaboration between Japanese and Indian companies from environment-related sectors and providing expertise in development and promotion of DMIC projects, including model eco cities or smart community initiatives at various locations in the DMIC region.
The DMIC project development fund will be set up with equal contribution from the governments of India and Japan. India has approved a grant of Rs 330 crore (approximately $75 million) as the country’s contribution. The Japanese component of $75 million is being provided in the form of untied loan from JBIC.
Bidding for the early-bird projects — around 24 identified by five states — is likely to begin in four-five month, DMICDC CEO and MD Amitabh Kant said. Most of the infrastructure work connected to the industrial corridor will be executed in PPP format. The DMIC, which is conceived to be developed as a global manufacturing and trading hub with emphasis on expanding the manufacturing and services base, will pass through Delhi, Rajasthan, UP and Maharashtra, Haryana and Gujarat.
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