The government has decided to invest over Rs.2,200 crore in nine projects along the Delhi-Mumbai industrial corridor — including an industrial townships in Greater Noida and Ujjain — in a bid to attract investments of Rs.1.2 lakh crore.
At least two projects, the Vikram Udyogpuri township near Ujjain and a water supply project in Pithampur would be launched on Friday. Although no date has been fixed for the Integrated Industrial Township in Greater Noida, the project is expected to involve an investment of around Rs.33,000 crore from the private sector and the state and the central government.
Similarly, investment in the Integrated Multi Modal Logistic Hub near Dadri is expected to attract investment of around Rs.35,000 crore.
The projects were approved by the DMIC Trust late on Tuesday evening but were announced by commerce & industry minister Anand Sharma on Wednesday. The statement comes at a time when the government is keen to be seen taking measures to boost investment in the country and create jobs. By flagging off investment in Madhya Pradesh, the UPA government is also trying to counter BJP’s development-led plank ahead of the elections in the state this year.
“These (nine) projects will drive the growth of manufacturing and bring in cutting edge technology from Japan. The projects will generate 2.15 lakh direct jobs and 6.18 lakh indirect jobs to the Indian economy,” the government said in a statement.
Senior government officials said the investment by the government, which will also have a debt component, will be used to create the trunk infrastructure such as sewage and roads, before they are bid out for development by the private sector. The government investment does not include the value of land, provided by the state. In case of the the Vikram Udyogpuri township, for instance, the land value is around Rs 55 crore, although the market value is expected to be much higher.
At least two projects, the Vikram Udyogpuri township near Ujjain and a water supply project in Pithampur would be launched on Friday. Although no date has been fixed for the Integrated Industrial Township in Greater Noida, the project is expected to involve an investment of around Rs.33,000 crore from the private sector and the state and the central government.
Similarly, investment in the Integrated Multi Modal Logistic Hub near Dadri is expected to attract investment of around Rs.35,000 crore.
The projects were approved by the DMIC Trust late on Tuesday evening but were announced by commerce & industry minister Anand Sharma on Wednesday. The statement comes at a time when the government is keen to be seen taking measures to boost investment in the country and create jobs. By flagging off investment in Madhya Pradesh, the UPA government is also trying to counter BJP’s development-led plank ahead of the elections in the state this year.
“These (nine) projects will drive the growth of manufacturing and bring in cutting edge technology from Japan. The projects will generate 2.15 lakh direct jobs and 6.18 lakh indirect jobs to the Indian economy,” the government said in a statement.
Senior government officials said the investment by the government, which will also have a debt component, will be used to create the trunk infrastructure such as sewage and roads, before they are bid out for development by the private sector. The government investment does not include the value of land, provided by the state. In case of the the Vikram Udyogpuri township, for instance, the land value is around Rs 55 crore, although the market value is expected to be much higher.
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