The Times Of India, Dec 27 2014, Gandhinagar: The Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) of the Central government will invest Rs 3,000 crore to boost the Dholera Special Investment Region (DSIR), a key project in the DMIC region.
DMICDC and the Gujarat government will sign an MoU and form a new special purpose vehicle to expedite the project.
A top state government official said, “In the SPV, 51% equity will be owned by the Gujarat government and rest by DMICDC. The corporation will fund Rs 3,000 crore for basic infrastructure projects like road, rail linkages and flood control while the Gujarat government will provide land of equal worth in a notified area of 900 sq km.”
“So far, this project failed to attract private investment as it lacks infrastructure,” said the source. Now, the state cabinet has approved the development plan for Dholera SIR. The government has transferred 70,430 acres of land to the RDA (regional development authority) for phase-I implementation, cleared six town planning schemes and issued around Rs 1,800 crore worth of tenders for roads and other infrastructure development projects.
“These changes are likely to see investment projects worth Rs1 lakh crore take off at the SIR. Several defense manufacturing units are expected. Expressions of interest are likely in the Vibrant Gujarat Global Summit. Under the new plan, the state government has decided to only allow non-polluting industries,” added the sources.
In the 2009 Vibrant Gujarat Summit, three investors had announced investments worth Rs1 lakh crore in Dholera SIR but they failed to turn up. After DMICDC’s involvement, the project is expected to get a new lease of life.