Hitachi, Toshiba, Mitsubishi and JGC ready to invest in DMIC

Leading Japanese corporations such as Toshiba Corporation, Hitachi, Mitsubishi Heavy Industries and JGC Corporation are planning big investments in the proposed Rs 3.6-lakh crore Delhi-Mumbai Industrial Corridor (DMIC) project.

These companies are planning projects in solar power, power transmission, infrastructure development, water supply and sewerage treatment, according to reports appearing in Japanese newspapers that quoted Masayuki Naoshima, the Japanese minister for economy, trade and industry.

However, he did not specify the nature of the projects and the investment by each of these companies. The companies are scheduled to begin feasibility studies in April and will launch full-fledged construction work as early as 2011-12, according to the reports.

Besides, the city of Kitakyushu will provide its knowhow on environmental technologies, while Yokohama is expected to help develop and manage water supply and sewerage systems for DMIC, said the minister.

Business Standard could not independently verify the development with the companies. DMIC Development Corporation Chief Executive Amitabh Kant was not available for comments.

According to sources, the $76-billion Toshiba Corporation is targeting $1 billion in revenues from India by 2015, with a range of new products from computers to televisions and washing machines. Hitachi also has extensive presence in India, with a dozen odd trading and manufacturing companies. Mitsubishi Heavy Industries, one of the largest heavy engineering players in the world, had last year started a Rs 880-crore steam turbine and generator venture in India with Larsen & Toubro. Toshiba and JSW Energy also have a joint venture in Chennai to make steam turbines and generators, which will take off by 2011.

JGC Corporation, formerly Japan Gasoline, is one of the leading petrochemical companies in Japan and is yet to make major investments in the country, said the sources.