Each new city on Delhi-Mumbai Industrial Corridor needs Rs 2500 cr
According to the Department of Industrial Policy & Promotion, initial funding of Rs 18,500 crore is needed by seven futuristic cities on Delhi-Mumbai Industrial Corridor.
The government is developing these cities to meet China’s manufacturing proficiency. These new cities will be called as nodes.
A government official told ET that they are waiting for the comments of finance ministry after which they will place the note before the Union Cabinet for approval.
The Delhi-Mumbai Industrial Corridor includes Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra and is 1500 km long.
The note also mentioned that each node in the corridor requires Rs 2500 crore as a launch capital and each node is built on the lines of industrial cities in China and South Korea. Government will be using this capital to develop the trunk infrastructure over the period of five years and before inviting private investors in the field.
Apart from this capital, it also requires additional Rs 1000 crore for floating bids and other purposes. All the cities would have World-class residential facilities, centrally integrated civic services and an integrated public transport system.
These investments would be used in developing infrastructure like internal and arterial roads, solid waste disposal system, storm water drainage, bus and rail transport, flood management and landscaping.
