The Delhi Mumbai Industrial Corridor (DMIC) Trust will provide Rs 3,000 crore each for the launch of trunk infrastructure in two industrial cities of Dholera and Shendra-Bidkin this year as momentum picks up for the planned mega development.
"We will launch two cities this year and give Rs 3,000 crore each for the development of trunk infrastructure in two cities - Dholera, Gujarat and Shendra-Bidkin, Maharashtra," Talleen Kumar, CEO and Managing Director, DMIC Development Corp Ltd, told PTI on the sidelines of the World Cities Summit in Singapore last night.
Work at Dholera would begin from a 22 sq km activation zone to expand the industrial region development as part of DMIC in Gujarat, while 32 sq km of land has already been acquired for the Shendra-Bidkin development, he said.
Additional 8 sq km of land was in the process of acquiring for Shendra-Bidkin, giving a 40 sq km start for the mega park near Aurangabad.
Master planning for almost all the cities has been completed, he added.
Special purpose vehicles, each of a 50:50 partnership between the government of India and the state governments, were being formed for the development of the cities.
Three more cities would be launched within one year.
These are the Greater Noida Township, Global City in Gurgaon and the integrated township of Vikram Odyogpuri.
Land was being made available by the respective state governments for the development of these cities, said Kumar, after addressing a forum on "Rethinking India - Managing Growth and Steering towards Sustainability".
"The DMIC development would progress along as land was being made available for the planned industrial zones.
"The DMIC development would bring a new paradigm shift and innovative approach in bringing manufacturing centres with job creation and manufacturing as the key (economic) driver (to India)," he said at the forum.
The DMIC mega development was resonating among investors across the world because it is a unique model for industrialising the economy.
Industry observers say that DMIC would attract more than USD 100 billion in new investments while the value of land in the corridor would multiply manifolds, benefiting land owners and farmers, taking them into manufacturing industries as well as raising the value of the produce from surging industrial demand.