Mumbai, Aug. 7 -- The Central Government has released Rs 16,172.95 crore for the National Industrial Corridor Development Programme (NICDP) to accelerate the development of 20 industrial cities across India. The Department for Promotion of Industry and Internal Trade (DPIIT) has transferred Rs 16,172.95 crore to the National Industrial Corridor Development and Implementation Trust (NICDIT) for the programme, a sum equivalent to 161,729.5 mn.
The projects are being developed through Centre?State Special Purpose Vehicles (SPVs) established jointly by the Union and state governments, and project planning proceeds from node identification to master plans, environmental clearances and detailed engineering designs. The Centre provides financial support through equity and debt while state governments contribute land, and the model aims to strengthen manufacturing, attract investment and generate employment across regions.
Four of the 20 approved industrial city projects have been completed, offering world?class industrial infrastructure, and construction is underway on the remaining 16 projects. Projects are expected to be completed within 36 to 48 months from the appointment of Engineering, Procurement and Construction contractors, and internal infrastructure such as roads, water supply, sewerage and power distribution is being developed by respective SPVs. External connectivity, including highways, power supply, telecommunications and bulk water infrastructure, is being coordinated under the PM Gati Shakti National Master Plan in consultation with states and central agencies.
Out of the total allocation, Rs 14,569.97 crore has already been released to project SPVs for executing industrial corridor projects across multiple states, a disbursement equivalent to 145,699.7 mn. The initiative is intended to improve industrial competitiveness, strengthen logistics and facilitate ease of doing business, thereby attracting domestic and foreign investment and creating large?scale employment. The release reinforces the Centre's commitment to delivering integrated industrial corridors that support long?term economic growth.
Published by HT Digital Content Services with permission from Construction World.