Madhya Pradesh, IL&FS tie up to develop industrial zones

May 26th, 2009 - 7:23 pm ICT by IANS  

Bhopal, May 26 (IANS) The Madhya Pradesh government has signed an agreement with IL&FS Infrastructure Development Corp (IIDC) for the development of three industrial zones under the central government’s ambitious Delhi-Mumbai Industrial Corridor (DMIC) project.
This project will prove to be a milestone in the future industrial development of the state, Minister for Commerce, Industry and Employment Kailash Vijayvargiya said Tuesday.

The agreement was signed Monday between Madhya Pradesh Trade and Investment Facilitation Corp (Trifac) and IIDC.

Under the deal, Trifac and its partner firm will jointly work to develop three industrial areas - Ratlam-Nagda Investment Region, ShajapurDewas Industrial Area and Neemuch-Nayagaon Industrial Area, an official of the state Industry department told IANS.

“Trifac has appointed IIDC as the project management consultant for the development of the investment nodes as per the conditions laid down in the agreement,” said the official, who did not want to be identified.

The 1,483-km long DMIC, which is expected to cost $90 billion, passes through five states with a series of industrial zones that will be serviced by a string of dedicated freight expressways, rail links and other facilities.

According to government reports, once the DMIC project is complete, the employment potential will double and the industrial output will go up three-fold in five years.

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