DMIC’s Global City Plan for Haryana Gets Boost with Approval for SPV

GURGAON:
Plans for the Global City, a futuristic financial and business hub proposed in Haryana under the Delhi-Mumbai Industrial Corridor (DMIC) moved another step forward with the DMIC Project Implementation Trust Fund approving the formation of the Special Purpose Vehicle (SPV) and Joint Venture agreements between state and central governments.
Progress on the project was reviewed on Tuesday at a high-level meeting attended by senior officials of the Haryana State Industrial Infrastructure Development Corporation (HSIIDC), project consultants and DMICDC officials.
The feasibility report and master plan have already been initiated for the Global City, to come up at Garhi-Harsaru in Haryana’s Gurgaon over an approximately 1,100-acre area. It is being designed as a model “Smart City” with a world-class infrastructure backbone, and IT linkages to integrate all public utilities and services including water, power and transport.
The site for the proposed city has excellent air, rail and road connectivity. It is located around 30 kms from the Indira Gandhi International airport in Delhi and is in close proximity to the Delhi-Jaipur rail line. It has a direct connectivity from the Northern Peripheral Road and Pataudi Road with close access from NH-8.
“As one of the early-bird projects of the DMIC, we are hoping to develop the Global City as a finance & IT hub with top companies setting up their offices and advanced industries and research & development centres supporting innovation and creative breakthroughs in technology,” said Alkesh Sharma, the CEO and Managing Director of the DMIC Development Corporation (DMICDC).
“The city will be developed under the ‘live-work-play’ concept, offering not just top-quality business infrastructure, but green, well-connected residential spaces, art and culture centres and leisure facilities. It will act as a sub-CBD of Gurgaon,” said Sudhir Rajpal, Managing Director of HSIIDC Ltd.
Haryana Chief Minister  Manohar Lal Khattar has been actively monitoring the project. An MoU had been signed between the Government of Haryana and the DMICDC during the Happening Haryana investment meet in March 2016.