Private co to handle Delhi-Mumbai USD 90 bn project
Private co to handle Delhi-Mumbai USD 90 bn project Delhi-Mumbai Industrial Corridor (DMIC) project worth USD 90 bn will be handled by a private company, reports Economic Times.
It is learnt that DMIC will be a private entity, where the company will hold only 49% equity, allowing private infrastructure companies to participate in 51% equity of the company, sources close to the development said. If the government holds 50% equity, all government rules from employing people to going through other regulations need to be adhered to.
For the first time such a huge infrastructure project will be handled by a private company, and the central government will hold 26% of the equity of the company.
Six state governments of Uttar Pradesh, Maharashtra, Haryana, Rajasthan, Gujarat and Madhya Pradesh, through which the corridor will pass, would each hold 3.83% equity amounting to 23% stake in the company.
