Coming up new industrial corridor between Chennai and Bengaluru
Updated: May 28, 2013 06:23:03pm
New Delhi, May 28 (KNN) Enthused by the success of USD 90 billion Delhi Mumbai Industrial Corridor (DMIC) with the help of the Japanese government, a similar initiative is under way for developing industry corridor between Chennai and Bengaluru. The preliminary study for a Comprehensive Integrated Master Plan for this corridor has been completed.
“The Chennai-Bengaluru Industrial Corridor is the base for many Japanese companies in India. It provides another focus for expanded Japanese industrial cooperation in future. I am pleased that the preliminary study for a Comprehensive Integrated Master Plan for this corridor has been completed, and the second phase of the project is about to commence,” said Prime Minister Manmohan Singh in Tokyo today.
The Prime Minster is on a three-day visit to Japan and Thailand. He has held discussion with Japanese Prime Minister Shinzo Abe.
He further said, the Delhi Metro also built with the help of the Japanese is “inspiring a similar revolution in public transportation. Our two flagship infrastructure projects – the Western
Dedicated Freight Corridor (WDFC) and the DMIC – are unmatched both in their size and scale. We are also exploring new projects such as an industrial corridor between Chennai and Bengaluru.”
The two ongoing flagship projects of the India-Japan partnership are the Western Dedicated Rail Freight Corridor between Mumbai and Delhi and the associated DMIC project is making progress.
The Western Dedicated Freight Corridor between Delhi and Mumbai is scheduled for completion as planned in 2017. The DMIC project has moved from the planning to the implementation stage.
Further, Japan International Cooperation Agency (JICA) has committed USD 1.5 billion for the project and Japan Bank for International Cooperation (JBIC) has committed USD three billion.
JBIC has been given 26 per cent equity in the DMIC Development Corporation, making it a global strategic partner in the project.
A number of priority projects for implementation from the first tranche of USD 4.5 billion has been provided by Japan.
The issues of priority sector lending treatment to DMIC projects have been resolved.
Moreover, Japanese banks are being given licenses to open branches in metropolitan areas.
Japan has also offered financial and technical support for a Detailed Project Report for the Mumbai-Ahmedabad High Speed Railway route. (KNN)
“The Chennai-Bengaluru Industrial Corridor is the base for many Japanese companies in India. It provides another focus for expanded Japanese industrial cooperation in future. I am pleased that the preliminary study for a Comprehensive Integrated Master Plan for this corridor has been completed, and the second phase of the project is about to commence,” said Prime Minister Manmohan Singh in Tokyo today.
The Prime Minster is on a three-day visit to Japan and Thailand. He has held discussion with Japanese Prime Minister Shinzo Abe.
He further said, the Delhi Metro also built with the help of the Japanese is “inspiring a similar revolution in public transportation. Our two flagship infrastructure projects – the Western
Dedicated Freight Corridor (WDFC) and the DMIC – are unmatched both in their size and scale. We are also exploring new projects such as an industrial corridor between Chennai and Bengaluru.”
The two ongoing flagship projects of the India-Japan partnership are the Western Dedicated Rail Freight Corridor between Mumbai and Delhi and the associated DMIC project is making progress.
The Western Dedicated Freight Corridor between Delhi and Mumbai is scheduled for completion as planned in 2017. The DMIC project has moved from the planning to the implementation stage.
Further, Japan International Cooperation Agency (JICA) has committed USD 1.5 billion for the project and Japan Bank for International Cooperation (JBIC) has committed USD three billion.
JBIC has been given 26 per cent equity in the DMIC Development Corporation, making it a global strategic partner in the project.
A number of priority projects for implementation from the first tranche of USD 4.5 billion has been provided by Japan.
The issues of priority sector lending treatment to DMIC projects have been resolved.
Moreover, Japanese banks are being given licenses to open branches in metropolitan areas.
Japan has also offered financial and technical support for a Detailed Project Report for the Mumbai-Ahmedabad High Speed Railway route. (KNN)
Loading...
