Concept paper for the proposed Chennai-Bangalore-Mumbai industrial corridor

The Centre has asked IDFC Projects Ltd, a part of IDFC Ltd, to prepare the concept paper for the proposed Chennai-Bangalore-Mumbai industrial corridor. This follows requests from the southern States for the industrial corridor, on the lines of the Delhi-Mumbai Industrial Corridor Project.

The Delhi-Mumbai Industrial Corridor, which is being developed with Japanese technological and financial cooperation, aims at doubling employment potential, tripling industrial output and quadrupling exports from the region in the first five years.

The Centre has incorporated the Delhi Mumbai Industrial Corridor Development Corporation as the nodal agency for building the 1,483-km-long industrial corridor.

The Centre will hold a 49 per cent stake, with the balance being held by financial institutions — IL&FS, IDFC, IIFC — and the six State governments through which the proposed corridor will pass through.

Work on the corridor will be done in two phases, with the first phase likely to be completed during 2008-12 and the second phase from 2012 to 2016.

The project envisages setting up in the first phase, one investment region spread over 200 sq km and an industrial area of a smaller size in each State, barring Delhi.