Case 44: Delhi Mumbai Industrial Corridor Project

B Rajesh Kumar
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B Rajesh Kumar: Institute of Management Technology

Chapter 48 in Project Finance, 2022, pp 301-304 from Springer

Abstract: Abstract The Delhi Mumbai Industrial Corridor (DMIC) project was conceived as a symbol of Indo-Japan strategic partnership in 2006. Delhi Mumbai Industrial Corridor (DMIC) is a mega infra structure project in India covering a distance of 1438 km between the political capital (Delhi) and the business capital (Mumbai) of India. The total project cost was valued at USD 90 billion. In 2006 a MOU was signed between Government of Japan and India for the development of the project. DMIC Development Corporation (DMICDC) incorporated in the year 2008 is the implementing agency for the project. DMICDC ownership structure consists of 49% equity stake by Government of India, 26% stake by Japan Bank for International Corporation and the rest are held by government financial institutions. DMICDC is managed by a shell structure with USD 2.5 million. The project is being funded through private public partnership and foreign investment. The initial Japanese government support for the project was US$4.5 billion which was offered as a loan for a period of 40 years at a nominal interest rate of 0.1%. The project includes 24 industrial regions, eight smart cities, two international airports, five power projects, two mass rapid systems and two logistical hubs. The main objective of DMIC is to develop the corridor project as a “Global Manufacturing and Trading Hub”.

Date: 2022
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DOI: 10.1007/978-3-030-96725-3_48

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