HSIIDC to have 4 per cent equity in DMIC

Chandigarh, Oct 3 (UNI) The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) will share four per cent equity in the prestigious Delhi-Mumbai Industrial Corridor DMIC) project being established by the Centre with Japanese collaboration.

The decision has been taken in response to the letter sent by Union Ministry of Commerce and Industry wherein the Haryana government was requested to participate in the equity of the newly formed Special Purpose Vehicle (SPV), Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) for implementation of this project, an official spokesman said.

The state government has approved the participation of HSIIDC in the equity of the SPV to the tune of Rs 40 lakh.

The Managing Director HSIIDC has been nominated as special representative of the state government on the Board of Directors of DMICDC.

Mr Rajeev Arora, Managing Director of the Corporation, said a Memorandum of Understanding (MoU) would be signed between HSIIDC and DMICDC shortly. The draft of this MoU had already been approved by the state government.

Elaborating the concept of DMICDC, Mr Arora said the Central government was establishing a Dedicated Freight Corridor between Delhi and Mumbai, with terminals at Dadri in the National Capital Region of Delhi and Jawaharlal Nehru Port near Mumbai.

The corridor covering a length of around 1500 km would pass through the states of Uttar Pradesh, Delhi, Haryana, Rajasthan, Gujarat and Maharashtra.

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