Delhi-Mumbai Industrial Corridor (DMIC)

  1. #76

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    LIC, IIFCL may buy stake in Delhi-Mumbai corridor project

    Life insurance major LIC and India Infrastructure Finance Company (IIFCL) are expected to acquire stakes in the government's ambitious $100-billion Delhi Mumbai Industrial Corridor project, an official said today.

    The move comes after the Cabinet's decision to re-structure the DMIC Development Corporation (DMICDC), which will develop industrial enclaves along the Delhi-Mumbai rail corridor encompassing seven states.

    As per the restructuring plan, the 51% stake held by IL&FS and IDFC would be transfered to government-owned financial firms, making DMICDC a deemed government company.
    "The Department of Economic Affairs has proposed that LIC and IIFCL would take stake in the DMICDC," the official said.

    The government holds 49% stake in the project.

    Meanwhile, the Department of Industrial Policy and Promotion (DIPP) has moved a draft cabinet note to give 26% stake in the project to the Japanese government. Japan has expressed interest in buying stake.

    "The Cabinet Committee on Economic Affairs is expected to soon take up the proposal where, Japanese government, LIC and IIFCL will take over the stake of IDFC and IL&FS in the DMIC project," the official added.

    Japan intends to invest $4.5 billion in the project over the next five years.

    DMIC Development Corporation (DMICDC) is a special purpose vehicle for implementing the ambitious project for building industrial enclaves along the Delhi-Mumbai rail corridor, encompassing seven states - Delhi, Uttar Pradesh, Haryana, Rajasthan, Gujarat, Maharashtra and Madhya Pradesh.

    The project which envisages creation of not only industrial townships but also new cities, is being supported by Japan.

    An industry ministry official delegation headed by DIPP secretary PK Choudhery would visit Japan in April, to discuss about the investment details and progress of the project.

    The Cabinet had approved equity restructuring of DMICDC and an expenditure of Rs 18,500 crore on development of infrastructure in September.

    LIC, IIFCL may buy stake in Delhi-Mumbai corridor project

  2. #77
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    what is the current status of DMIC...any idea?

  3. #78
    Zandu balm all day
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    'Land acquisition undemocratic'

    INDORE: Farmers in the Pithampur- Betma industrial cluster area, who are against the government's move to acquire their land for construction of the proposed Delhi Mumbai Industrial Corridor (DMIC) called on Indore MP Sumitra Mahajan in the city on Saturday to express their reservation over the issue.

    The Kisan Sangharsh Samiti is up in arms against the government's move as they feel that the people living in the area are opposed to acquisition of their land for the ongoing DMIC project. Later, a memorandum to this effect was submitted by members of the samiti, including Rajendra Sharma, Tapan Bhattacharya and SK Dube. They have termed the acquisition process as undemocratic one. They alleged that their land was openly being offered by the government for sale or purchase to the corporate sector.

  4. #79

    nrj

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    What a scumbag

    Medha Patkar terms DMIC project 'unconstitutional'

    New Delhi, Mar 17 (ANI): Finance Minister Pranab Mukherjee might have informed the Lok Sabha on Friday that the 90 billion dollar Delhi-Mumbai Industrial Corridor (DMIC) is making significant progress, but veteran social activist Medha Patkar termed the project as 'unconstitutional', as she felt it would affect the future of inhabitants of areas in six states through which the project will pass.

    Speaking to Asian News International on phone, Patkar said that objections have already been made in Maharashtra and Madhya Pradesh.

    "It is perverted. You can't affect their living conditions and create a huge structure there. This is unacceptable," Patkar said.

    Insisting that the full impact of the project has not been assessed by the DMIC authorities, Patkar said that the project will have to pass legal scrutiny or else it would be entangled in unlawful activities.

    "In Madhya Pradesh, for example, the so called leaders are buying land and will make huge profit out of it. This is unnecessary. This is absolutely unconstitutional," Patkar added.

    While presenting the union budget 2012-13, Mukharjee had said: "The DMIC is being developed on either side along the alignment of the western dedicated rail freight corridor. The project has made significant progress."

    In September 2011, the government had approved a central assistance of 18,500 crore rupees spread over a period of five years to DMIC.

    According to Mukherjee, the Japanese Prime Minister had announced a loan of 4.5 billion dollars as its participation share in the DMIC project.

    The DMIC is a mega infra-structure project worth 90 billion dollars with the financial and technical aid from Japan, covering an overall length of 1,483 kilometres between Delhi and Mumbai. It incorporates nine mega industrial zones, high speed freight line, three ports, and six airports, a six-lane intersection-free expressway connecting the country's political and financial capitals. By-Mahaswetha Dass.(ANI)

    Medha Patkar terms DMIC project 'unconstitutional'

  5. #80

    nrj

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    Kunal Biswas likes this.

  6. #81
    Senior Member arya
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    every one is making money guys what a good time for us to make money

  7. #82
    Bow Before Me! The Messiah
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    wasn't she part of anna brigrade ?

  8. #83
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    This bitch started by ruining the Narmada dam, now she seems to be taking on DMIC.

  9. #84
    Zandu balm all day
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    NNNNOOOOOOOOOOOOOOOOoooooooooooooooooooooooooo

    DMIC is the only hope I have for India!!

  10. #85
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    Dont worry, I remember reading a news report of farmers who were benefitting from Narmada water to their fields chasing out her and her supporters from their village. If people are benefited they will not oppose the project.

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    Officials upbeat as DMIC project deadline reset to 2017


    The deadline for the much-delayed Delhi Mumbai Industrial Corridor (DMIC) project have been revised from 2013 to 2017. DMIC Developement Corporation (DMICDC) CEO Amitabh Kant is confident that these new deadlines will be met, reports CNBC-TV18's Ronak Jain.
    At an estimated USD 90 billion, the DMIC, was deemed an ambitious project. The original deadline of 2013 set for completion of the freight line was a tough task. Especially due to issues over land acquisition and delayed approvals from state governments.
    Now, armed with a new deadline for the freight corridor set at 2017, DMICDC CEO Kant is oozing confidence.
    "There is no delay; I think we moved pretty fast. Our objective for the first phase from 2012 to 2019 across seven new cities should be completed by 2019 and I think we are well on time. The train will run by 2017-end on dedicated freight corridor," explained Kant.
    But that's not to say the challenges have evaporated. A mega project like this which constitutes industrial zones, high-speed freight lines, ports, airports and an expressway connecting the political and financial capitals has its own unique problems.
    "This is a big project which needs to be broken into smaller components. The smaller components need to be planned well and then those plans need to be strictly adhered to. Then there is the challenge of bringing in technology to make quantum advances. Lastly, is the need to bring in long-term financing," added Amitabh Kant.
    And of course, the people of India need to chip in.
    "These projects are long-term for Indians. We must start understanding that they are difficult, complicated and challenging. Projects of this nature can't be done over night."
    However, not everyone shares Kant's confidence. Experts say that given the difficulty in raising funds, the government's struggle with policy paralysis both at the Centre and state level, may make it difficult for even the revised deadline of 2017 to be met.

  12. #87
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    ‘43 mega projects to come up in state’


    AURANGABAD: Chief minister Prithviraj Chavan said that 43 mega projects would come up in Maharashtra and 13 of them, with an investment of about 10,000 crore, would be in the Marathwada region.

    "These projects are expected to generate 26,000 jobs in the state,'' Chavan added, while addressing a programme organized to mark 50 years of modern industry in Marathwada on Saturday evening.

    It was on January 12, 1962 that two brothers, Nanasaheb Bhogale and Shrikant Bhogale, had initiated modern industrial culture in Aurangabad with the launch of their Umasons, a hospital equipment manufacturing unit in Aurangpura in Aurangabad, which has now turned into a Rs 400-crore group. The Marathwada region now accounts for 3,000 industries, including micro, small, medium, and large industries and multinationals companies.

    About 40 organizations representing industries and trade in Marathwada joined hands to celebrate the 50 years of industry and chalk out a course of action to ensure systematic trade and industrial development in the backward region. The organizations had invited the chief minister for the programme to apprise him of the region's industrial journey as well as to present him a road map for the next 20 years.

    The event also included felicitation of 20 business and industrial houses which have completed 50 or more years and still making progress.

    Addressing a gathering of traders and industrialists, the chief minister said that, along with the mega projects, the government intends to pay special attention to strengthen the small and medium industries also. Responding to the presentation by Mukund Kulkarni, president, Chamber of Marathwada Industries and Agriculture (CMIA), and Mansingh Pawaar, former president of the Maharashtra Chamber of Commerce and Agriculture (MACCIA), the chief minister said that he would soon convene a meeting of various departments in Mumbai to ensure that the required infrastructure for the growth of Marathwada region is provided.

    He also said that efforts would be made to remove difficulties cropping up in the way of the proposed Delhi-Mumbai Industrial Corridor (DMIC), which included Aurangabad and Jalna districts.

    District guardian minister Balasaheb Thorat, school education minister Rajendra Darda, minister for higher and technical education Rajesh Tope, Rajya Sabha MP and president of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) Rajkumar Dhoot, Aurangabad MP Chandrakant Khaire, industrialists Ram Bhogle, Ulhas Gaoli and Mansingh Pawaar, raised a number of issues pertaining to the industrial growth.

    "The government has just to provide the infrastructure, the industry would turn into money spinners,'' they said.

    Ram Bhogale said that, when the Bhogles launched their industry in 1962, there was virtually no infrastructure available.

    "Now the situation has changed considerably. Still, even after 50 years, some issues have to be resolved.''

  13. 15-05-12, 10:52 PM

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  14. #88

    nrj

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    How come we missed this ?

    India to give 26% stake in DMICDC project to Japan govt

    India has agreed to supply 2mt of iron ore annually to Japan by extending an earlier agreement


    India to give 26% stake in DMICDC project to Japan govt - Economy and Politics - livemint.com

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    $100 bn Delhi-Mumbai Industrial Corridor: FinMin OK's 26% Japan stake


    In order to give a big thrust to manufacturing sector, the Finance Ministry has given green signal to the DIPP's proposal to give 26 per cent stake to the Japanese government in the USD 100-billion Delhi-Mumbai Industrial Corridor project.

    "We have received comments from the Finance Ministry and they have supported the proposal. Soon we will move the final note for Cabinet Committee on Economic Affairs approval. We had moved the draft cabinet note in December 2011 itself," a commerce and industry ministry official said.

    All the other concerned ministries including the labour ministry have already supported the proposal of the Department of Industrial Policy and Promotion (DIPP).

    As per the draft cabinet note on the DMIC Development Corporation (DMICDC) re-structuring, 49 per cent stake will be held by the government, 26 per cent by the Japanese government and 25 per cent with state-run institutions - Life Insurance Corporation, HUDCO and India Infrastructure Finance Company.

    The DMIC Development Corporation (DMICDC) is a special purpose vehicle for the implementation of the Delhi-Mumbai Industrial Corridor (DMIC) project. It will run the trust fund into which the government, multilateral agencies and Japanese entities will invest to finance the project.

    The official said timely restructuring would help in fast-tracking the ambitious project.

    The manufacturing sector, which constitutes over 75 per cent of the index of IIP, grew barely 0.1 per cent in April, as against 5.7 per cent in April 2011.

    The Corporation will develop industrial enclaves along the Delhi-Mumbai rail corridor encompassing seven states - Delhi, Uttar Pradesh, Haryana, Rajasthan, Gujarat, Maharashtra and Madhya Pradesh.

    The Cabinet had approved equity restructuring of DMICDC and an expenditure of Rs 18,500 crore on development of infrastructure in September 2011.

    This plan will make DMICDC a deemed government company. Japan, which has expressed keen interest in the DMIC project, intends to invest USD 4.5 billion in the project, which will cover 1,483 km between Delhi and Mumbai, over the next five years.

    The DMIC project, which was conceptualised in 2006, is being developed in collaboration with Japan as a manufacturing and trading hub, though Japanese participation did not involve equity holding till now.

    The project aims to create globally competitive environment and latest infrastructure to activate local commerce, enhance foreign investment, create employment opportunities, enhance exports and attain sustainable development.

    According to experts, the progress and implementation of projects would depend upon the availability of land.

  16. #90
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    How is it that the finance ministry has all of a sudden started making all the right noises with the exit of Pranabda.

    Good, the ministry is on the move at last.

    So, do we get to see the rupee notch up further. Let's see, but i sense yes.

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