Mega Indian welcome for Japan By Siddharth Srivastava NEW DELHI - The Indian government formally approved the US$100 billion Delhi-Mumbai Industrial Corridor (DMIC), the country's largest infrastructure project, ahead of the three-day visit of Japanese Prime Minister Shinzo Abe this week.

Japan was made the official partner in the DMIC project during a visit by Prime Minister Manmohan Singh to Tokyo last December. The Japanese government and corporate sector are expected to provide up to $30 billion in loans and investments to support the initiative, in what would be one of Japan's biggest financial contributions to a single foreign project of this nature.

The first phase of the 1,500-kilometer project from next January to 2012 will include six investment mega-regions of 200 square kilometers each. The second phase will span 2012-16 and will aim to strengthen the industrial hub and integrate the areas further.

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Posted by rjorr at August 23, 2007 6:35 PM