The Commerce and Industry Ministry today said it is in the process of conducting a detailed environmental impact assessment for the $100 billion Delhi-Mumbai Industrial Corridor project (DMIC).
"Detailed environmental impact assessment for all the six cities is in progress and we are aiming to secure pre-clearances to ensure speedy implementation," a statement quoting Commerce and Industry Minister Anand Sharma said.
The minister was talking while chairing the Parliamentary Consultative Committee Meeting on DMIC, which proposes establishment of mega industrial cities in the country.
According to experts, the progress and implementation of projects would depend upon the availability of land.
Sharma said the government has decided to finance the entire trunk infrastructure in these townships, while the internal infrastructure would be developed on a public- private-partnership (PPP) model.
Japan, which has expressed keen interest in the DMIC project, intends to invest $4.5 billion in the project, which will cover 1,483 km between Delhi and Mumbai, over the next five years.
The project aims to create globally competitive environment and latest infrastructure to activate local commerce, enhance foreign investment, create employment opportunities, enhance exports and attain sustainable development.
The DMIC Development Corporation (DMICDC) is a special purpose vehicle for the implementation of DMIC project which would develop industrial enclaves in states including Uttar Pradesh, Haryana, Rajasthan, Gujarat and Madhya Pradesh during the first phase.
Besides, it would also run the trust fund into which the government, multilateral agencies and Japanese entities will invest to finance the project.
The manufacturing sector, which constitutes over 75% of the index of IIP, grew barely 0.1%, as against 5.7% in the same period last fiscal.
The Cabinet had approved equity restructuring of DMICDC and an expenditure of Rs 18,500 crore on development of infrastructure in September, 2011.