HUDCO, IIFCL and LIC will replace the private sector infrastructure firms IL&FS and IDFC in DMIC

State-owned HUDCO, IIFCL and LIC will replace the private sector infrastructure firms IL&FS and IDFC in the company that will execute the ambitious $90-billion Delhi-Mumbai Industrial Corridor.

Under the new holding structure for the Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) approved by the government, LIC and IIFCL will together hold 5% stake, HUDCO 20%, government of Japan 26% and the balance 49% will be held by government of India.

A draft cabinet note has been circulated for inter-ministerial consultations to offer 26% stake to government of Japan.