The government has approved Rs.17,500 crore (USD 3.24 billion) for the Delhi-Mumbai Industrial Corridor (DMIC) project, which is estimated to cost around USD 100 billion overall, Minister of state for Commerce and Industry D. Purandeswari said Wednesday.
The minister said the government has approved the financial assistance at an average of Rs.2,500 crore per city, subject to a ceiling of Rs.3,000 crore per city, for the development of seven industrial towns in the first phase.
The Japanese government has also announced financial support of USD 4.5 billion for the first phase of the industrial corridor project, Purandeswari said in written reply to a question in the Rajya Sabha Wednesday.
The seven towns lie in the corridor connecting India's political capital New Delhi to the commercial capital Mumbai, covering a distance of 1,483 km.
According to the government estimates, the industrial cities are expected to attract an investment of USD 90-100 billion over the next 30 years.
In the first phase of the project, seven industrial cities or investment regions are planned. These are:
--Dadri-Noida-Ghaziabad (Uttar Pradesh);
--Pithampur-Dhar-Mhow (Madhya Pradesh);
--Shendra-Bidkin Industrial Park city near Aurangabad (Maharashtra); and
--Dighi Port Industrial Area (Maharashtra).
â€œThe cities would be launched with the development of townships of 25-50 sq km which are envisaged to be completed by the end of 2019,â€Â the minister said.
Arrangement of land for the project is the responsibilities of the state governments.
According to the minister, the process of land acquisition is in progress in Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra, and master planning has started in Uttar Pradesh.
Three airports are also planned to be developed under the DMIC project. The airports are: International Airport in Ahmedabad-Dholera Investment Region in Gujarat; Airport near Jodhpur in Rajasthan; and Aerotropolis in Alwar District, Rajasthan.