66 views 3 mins 0 comments

Global Businesses Look to Invest in DMIC cities: DIPP Secretary

In Business
September 22, 2017

Investors and business houses from around the world are expressing avid interest in the Delhi Mumbai Industrial Corridor (DMIC) with solid progress being made on the ground as four of the industrial smart cities planned in Phase I of the project rapidly build up trunk infrastructure facilities and get land parcels ready for allotment, the Chairman of DMICDC Ramesh Abhishek has told shareholders.
In the Annual General Meeting (AGM) of the Corporation held on Thursday, Abhishek, who chairs the DMICDC as Secretary, Department Of Industrial Policy & Promotion (DIPP), said the company has made “remarkable progress” in the last year as India reinforces its status as a sought-after global investment destination and the economy reaps the benefits of policy reforms in FDI, skilling &entrepreneurship support programmes and GST implementation.
Four of the eight industrial zones planned in Phase I of DMIC — Dholera in Gujarat, Shendra-Bidkin in Maharashtra, Vikram Udyogpuri in Madhya Pradesh and IIGNL in Greater Noida, UP — have progressed beyond planning into on-ground implementation.
“With the finalisation of land allotment policy in all the four Smart Industrial City projects, land parcels are ready for allotment to anchor tenants. Trunk infrastructure facilities tied at plot levels are being rapidly developed and various corporates and business houses from different parts of the world have expressed avid interest in the project. Many overseas entities have also desired to partner us in this path-breaking initiative as developers, consultants and PPP concessionaires,” said Abhishek.
The Corporation is now stepping up marketing and promotion efforts along with city SPVs offering a range of early bird incentives to anchor investors.
The Chairman also highlighted the milestones achieved by the DMICDC over the past year, including commissioning of the pioneering 1 MW micro grid Solar Power Project in Neemrana, Rajasthan; and the extension of the Logistics Visualization Service to the Adani Ports and Special Economic Zone (APSEZ) Container Terminals in Gujarat’s Mundra and Hazira bringing nearly 70% of India’s container volume under one tracking system.
Significant progress has also been made on other key infrastructure projects such as the state-of-the-art International Exhibition-cum-Convention Centre in New Delhi and Multimodal Logistic Hubs (MMLH) along freight and transport routes.
The Corporation, which has been designated as the knowledge partner for all the proposed industrial corridors in the country, will use the experience of the DMIC to optimize time, cost and resources for the other projects, Abhishek added.