Feasibility study of Industrial Corridors
The department of industrial policy and promotion (DIPP) along with the Japan International Cooperation Agency (JICA), have been trying to formulate a thorough and exhaustive plan for the Chennai-Bangalore Industrial Corridor.
The study has been recently completed. As per the corridor plan, this corridor would be established along Chennai, Ranipet, Sriperumbudur, Chittoor, Palamaner, Bangarupalem, Bangarpet, Hoskote and finally Bangalore. In the meantime an identical study for the industrial corridor of Bangalore-Mumbai has also been commissioned.
Besides, the Chief Executive Officer & Managing Director of Delhi-Mumbai Industrial Corridor Development Corporation recently announced that a committee has been formed to conduct a study to understand the feasibility of the Delhi-Kolkata Rail Corridor. It was also announced that the implementation of the Delhi-Mumbai Industrial Corporation was on schedule with the first phase anticipated to be completed in 2019.
The Delhi-Mumbai Industrial Corridor is a mega infra-structure project worth around $ 90 billion with Japan providing the technical and financial aids. The corridor stretches over a length of roughly 1483 kilometers from Delhi – the political capital to Mumbai – the business capital of India.
In December 2006, a memorandum of understanding (MOU) was signed between Vice Minister of Ministry of Economy, Trade and Industry (METI) of Government of Japan and Secretary, Department of Industrial Policy & Promotion (DIPP). Both the Prime Ministers were presented with a final project concept during Premier Abe’s visit to India in August of 2007.
This project incorporates high speed freight line, nine mega industrial zones of about 200 to 250 square kilometers, three ports and six air ports; a six-lane intersection-free expressway connecting the country’s financial and political capitals along with a 4000 MW power plant.
Numerous industrial estates, industrial hubs and clusters, with state of the art infrastructure would be established along the corridor to allure more foreign investment. The project would receive fundings from loans from the Japanese Government, Indian Government along with investment by private Japanese firms as well as through Japan’s depository receipts issued by the Indian companies.
