Click it and Unblock the Notifications
Just In
Don't Miss
-
107% Returns: Tata's NBFC Doubles Investors Money, Rs 53,440 Profits On Rs 50K; Key Parameters To Buy/Sell -
KKR vs RR Memes: Fans Take Potshot at KKR for Conceding Match after Scoring 223; Praises Jos Buttler's Knock -
Dr Sarvepalli Radhakrishnan Death Anniversary: Profound And Inspiring Quotes For Students -
Bade Miyan Chote Miyan Vs Maidaan Box Office Collection Day 6: Akshay Kumar BEATS Ajay Devgn. Margin Is... -
UPSC Success Story: An IITian, A Government Job Holder at Railways, Quit the Job and Emerged as an IAS -
Jeep Compass Gets More Powerful 268.3bhp Turbo Petrol Engine – Check Out All The Details Here -
Redmi Pad SE With 90Hz Display Launching on April 23 in India; Could Be Priced for Less Than Rs 20,000 -
From Coconut Breaking on Head to Men Dressing as Women: 12 Unique Indian Rituals Explored
Japan ready to invest $4.5 bn in DMIC project
New Delhi, Dec 28: Japan on Wednesday expressed intention to invest USD 4.5 billion (about Rs 23,400 crore) in the Delhi-Mumbai Industrial Corridor (DMIC) project over the next five years. India's ambitious USD 90 billion DMIC project is aimed at creating industrial infrastructure along the Delhi-Mumbai Rail Freight Corridor, which is under implementation.
Japan is giving financial and technical aid for the project, which will cover seven states totalling 1,483 kilometers. Noting the significant progress made by India’s contribution of a Rs 175 billion fund for development of trunk infrastructure for DMIC project, Noda announced the intention to "make available for the project Japan's public and private finance totaling USD 4.5 billion dollar in the next five years," a joint statement said.
This includes appropriate financing from the Japan Bank for International Cooperation (JBIC) as well as official development assistance (ODA) loan, it said. The two Prime Ministers felt that the DMIC Project would redefine the character of infrastructure growth in India through advanced technology and green growth, it said.
"The two Prime Ministers shared the vision for the development of the DMIC that the governments and private sectors of the two countries cooperate in a mutually complementary manner to develop an environmentally sustainable, long-lasting and technologically advanced infrastructure in the region of DMIC," it said.
The two leaders also felt that active involvement of Japanese agencies and companies would provide an impetus for the development of DMIC, the joint statement said.
PTI
