New Delhi: The government on Saturday approved Rs 4,318.28 crore for constructing roads and basic amenities at two industrial regions in Gujarat and Maharashtra under the Delhi-Mumbai Industrial Corridor (DMIC) project.
The Cabinet Committee, chaired by Narendra Modi, has approved the construction of trunk infrastructure components of Phase-1 of the Dholera Special Investment Region (DSIR) in Gujarat and Phase-1 of the Shendra Bidkin Industrial Area (SBIA) in Maharashtra under the DMIC Project.
These projects are likely to be completed in three to four years.
The total cost of the DSIR project is estimated to be about Rs 2,784.83 crore, which will be invested by DMIC Trust as equity in the city/node SPV, an official statement said.
For this region, the trunk infrastructure components are -- roads and services, ABCD building complex, water and sewage treatment plant and common effluent treatment plant.
The total cost of the SBIA project is 1,533.45 crore and the trunk infrastructure components under this project include road and utility services, rail over bridges, sewage and common effluent treatment plant, solid waste management and district administrative building for SBIA.
According to the statement for the DSIR project, as per the institutional and financial structure approved by the government, the land for the project will be contributed by the state government as their equity.
"...while the contribution of DMIC Trust by way of equity and debt will be made in form of cash for implementing various trunk infrastructure components subject to a ceiling of Rs 3,000 crore," it added.
The value of land brought by the state government would be the equity contribution of the state government.
"Trunk Infrastructure development is proposed to commence in FY 2015-16 for the above mentioned infrastructure projects and is likely to be completed by FY 2018-19 after all necessary approvals," it said.The development of trunk infrastructure in Phase-1 of SBIA is proposed to commence in 2015-16 and is likely to be completed by 2017-18.