The Delhi-Mumbai industrial corridor, touted as one of the most ambitious projects which could catapult Mumbai as an international financial centre.
First part of the project may be completed by 2011
MUMBAI: The Delhi-Mumbai industrial corridor, touted as one of the most ambitious projects which could catapult Mumbai as an international financial centre, is expected to bring in investments of up to $110 billion (Rs 4.4 lakh crore) in its first phase.
V K Jairath, principal secretary, industries, Maharashtra, said though the project is very less talked about, it can actually put Mumbai on the fast track towards becoming a financial hub of the world.
“The project is in two phases. The first phase is expected to be complete by the end of 2011. It envisages an investment of close to $110 billion,” he said.
The second phase of the project is expected to be over by 2014, Jairath said on the sidelines of a seminar organised by Confederation of Indian Industry.
He said the Delhi-Mumbai industrial corridor will cover a dedicated road stretch of 1,483 km out of which almost 148 km pass through Maharashtra. “There will be an industrial centre spread across 150 km on both sides of the corridor and will be the hub of industrial activity,” he said.
Jairath said under the current plan, the project is expected to have four nodes in Maharashtra. These nodes will act as centres of extensive industrial activity and bring in big industrial houses from across the state and world.
“The state government is pitching for an additional node to leverage the strength of the corridor and take the total number to five,” Jairath said.
Currently, the nodal points are located between Nashik-Igatpuri, Khed near Pune, one near Dighi port and another at Dhule.
Two more ports will be developed which can benefit from the corridor. These will be located at Revas in Raigad and Alewadi in Thane. Apart from these, the state government will also be developing 30-40 special economic zones.“The Delhi-Mumbai corridor will also give a boost to the proposed Mumbai-Nashik-Pune-Aurangabad quadrangle which will be eventually integrated into the corridor,” he said.
However, he admitted that the biggest of hindering factors that could delay the project was land acquisition and talent crunch. However, he said the state government is quite aggressive with its acquisition and rehabilitation policies and things would definitely fall in place.
The government is expecting investments to the tune of $ 60 billion over the next couple of years to flow only into Mumbai. Out of this, almost $8 billion is already committed and the work is on, said Jairath.
m_promit@dnaindia.net
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