'Delhi-Mumbai ind corridor must pass through MP'

New Delhi, July 2: Even before the 90 billion dollar Delhi-Mumbai Industrial Corridor could take off from the conceptual framework, Commerce and Industry Minister Kamal Nath today called for rectification of the corridor's route, saying it must pass through Madhya Pradesh.

Incidently, the minister has been elected from Chhindwara constitutency in MP.

While stating that he was disappointed that the corridor will not pass through Kamal Nath's constituency, Japan's Minister of Economy, Trade and Industry Akira Amari, however, expressed hope that his Indian counterpart will act like a great statesman who holds the serves the interest of the entire nation.

With the two sides racing against time to concretise the project before the coming visit of Japanese Prime Minister to India next month, the financial parameters of the massive industrial project, which will come up along both sides of the proposed 1,483 kms long dedicated freight corridor between two metro cities of India, have yet to be finalised.

Replying to a question on the funding pattern of the project, the Japanese minister suggested four ways ; investment by Indian government, Yen loan by Japanese government, investment by Japanese companies and Indian companies mopping up funds from Japanese market through Japanese depository receipts.

Answering the same question, the Indian minister recommended a basket of sources for financing the project, including investments by Central and State governments, Japanese loan and the capital market.

UNI