Govt incorporates Delhi-Mumbai industrial corridor

New Delhi: The Government has incorporated the Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) that would be the nodal agency for building the country’s first 1,483-km-long industrial corridor.

In the newly incorporated body, the Central Government holds 49 per cent stake while the remaining is held by financial institutions IL&FS, IDFC, IIFC and the six State Governments through which this proposed industrial corridor will run, said the Minister of State for Industries, Mr Ashwini Kumar.

To be developed with Japanese technological and financial cooperation, the work on the corridor will be in two phases, with the first phase expected to be completed during 2008-12. The second phase would extend from 2012 to 2016.

In the first phase one investment region of 200 sq km and one industrial area of a smaller size in each State barring Delhi is proposed to be set up. Though the corridor will pass through six States including Delhi, the National Capital will not be able to reap benefits in terms of industrial development due to paucity of land.