Japanese DRs likely to fund Del-Mum corridorBS Reporter / New Delhi July 3, 2007A significant portion of the Delhi-Mumbai Industrial Corridor (DMIC) is likely to be funded by Japanese depository receipts (JDR), which will be introduced by the Tokyo Stock Exchange (TSE) this September. The corridor is expected to see an investment of Rs 3,60,000 crore in phases, beginning 2008 through 2016.Prime Minister Manmohan Singh has said the move to introduce JDRs would help in financing the project. The PM made the remarks after Taizo Nishimuro, chairman, TSE, made a presentation to him on Monday.Later, a joint statement released by commerce minister Kamal Nath and his Japanese counterpart Akira Amari, said India could become the first country to benefit from JDRs.A JDR represents ownership in shares of a foreign company trading on the Japanese trading markets.The Infrastructure Development Corporation has said that at least 75% of DMIC's total fund requirements will have to be raised through public-private-partnership (PPP) projects. Of this, 60% of the funds could be obtained through schemes of IIFCL as well as instruments like JDRs or Japan government's export loans, overseas investment loans and debt or equity investments.In addition, the central government
