DMIC $ 90 billion project covers six states will attract huge investment

By Accommodation Times News Services

dmic-logoThe major ambitious project of Mumbai Industrial Corridor (DMIC), which will cover six states namely Uttar Pradesh (UP), National Capital Region (NCR) of Delhi, Haryana, Rajasthan, Gujarat and Maharashtra, is aided with $90 billion Delhi with technical and financial aid from Japan, is a mega infrastructure project that will spur growth and attract investment in the realty sector of India.

It is expected that DMIC will receive over Rs 1.1 lakh crore of investment in phases within a year for its proposed six projects. The project will be implemented in two phases viz Phase-I & II. The deadline for the first phase of the project is 2019. Initially, the Union government had sanctioned Rs 1008 crore for the first two phases of the project to be executed in UP state. In UP, a Multi-Modal Logistics Hub at Dadri will be constructed at the cost of Rs 391.75 crore.

One more additional project is been proposed for Rs 617.20 crore and is been sanctioned for an Integrated Industrial Township at Greater Noida. It will be spread over an area of 700 acres and will have industries like Hi-Tech electronics, Research & Development, Biotechnology etc. This in turn will support sectors like automobiles, telecom, pharmaceutical, food etc.

Integrated investment regions (IR) have also been identified along the corridor. These regions will be self-sustained industrial clusters and townships with world class facilities in terms of connectivity with ports, power, quality social infrastructure, etc. The proposed industrial clusters will create demand for residential and commercial properties. Further, hospitality industry too will get a booster dose as demand from corporate sector crops up for adequate space to conduct conferences and seminars.

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