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After nearly three years of delay, the Government of India and the Maharashtra government on Monday signed the state support agreement (SSA) and shareholders agreement (SA) for the first phase of much ambitious Delhi Mumbai Industrial Corridor (DMIC). The phase I entails at investment of Rs 17,391 crore to cover 84 sq km of area in Aurangabad district of the underdeveloped Marathwada region. Initially, 32 sq km will be developed with Maharashtra government's 51% equity and balance 49% to be held by the Government of India. These agreements were today signed in the presence of chief minister Prithviraj Chavan and union minister for commerce and industries Anand Sharma.
Maharashtra government's equity will be towards equity while the Government of India will contribute funds for the development of trunk infrastructure. In addition, the Government of India will also pump in Rs 3,000 crore per each industrial township project.
The phase I project covers Shendre Bidkin Industrial City, multi modal logistics park at Karnad, exhibition cum convention centre at Aurangabad and water supply scheme for Shendra. These projects are expected to create 3,30,000 jobs.
The state run Maharashtra Industrial Development Corporation has already acquired 3,200 hectare through consent route and the compensation of Rs 23 lakh per acre is being paid. The compensation is almost 50% more than what has been recommended in the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act. This apart, the project affected persons will also be provided 15% developed land.
Chavan and Sharma said that manufacturing will drive growth in Aurangabad and around due to proposed projects. Sharma said Maharashtra of the total six states is the first state to enter into SSA and SA.
According to Chavan, a total of 55,000 hecrare covering eight districts will be required for the completion of phase I and II DMIC projects in Maharashtra. He informed that the Japanese government and its banks and financial institutions have already assured loan for these projects. The phase II, which is expected to enhance the state's manufacturing capability, will include Dighi Port Industrial Area, Dhule mega industrial park, Nashik-Sinnar-Igatpuri investment region, muti modal logistics parks and greenfield mega city in Ahmednagar.
DMIC chief executive officer Amitabh Kant said that all the necessary approvals were in its possession. He informed that two gas based power projects are proposed in Indapur and Dighi.
Kant said DMIC project in Maharashtra will cover 29% area of the state and 18% project influence area. The proposed projects in phase I and II are expected to generate an additional 3.8 million manufacturing jobs in the state and the additional industrial output worth Rs 20 lakh crore by 2042.
