Delhi Mumbai Industrial Corridor Development Corporation (DMICDC)
Considering prominence of the project, magnitude of infrastructure development works involved and the quality of program management expertise that would be required for timely and successful implementation of DMIC, it is envisaged that a corporate entity be created which is/ has
. Dedicated in nature so that it is fully focused on the program;
. Authority and support of government (central and state);
. Flexibility of a corporate environment; and
. Backing of central government so that funds from various sources can be channelised to the intended areas In view of the above, a dedicated entity, Delhi Mumbai Industrial Corridor Development Corporation Limited (DMICDC) was incorporated on January 07, 2008 on a Public-Private Partnership model with stakeholders from the private sector (Banks, FIIs), PSUs as well as from the Central and State Governments concerned.
Functions of DMICDC:
(i) Detailed project preparation and obtaining various clearances for the components/sub-components;
(ii) Evolving financing patterns for different components including arranging finances, where required, on the basis of a sovereign guarantee;
(iii) Co-ordination with various Union Ministries and State Governments, Financial Institutions, and Infrastructure development agencies;
(iv) Monitoring the implementation of various components & subcomponents and facilitating in their execution;
(v) Introducing 'state-of-the-art' implementation methodologies and know-how for quicker implementation of infrastructure projects;
(vi) To undertake project development services for various central government projects and also help in assisting state governments (where desired);
Initial Equity Structure of DMICDC:
DMICDC will be managed by a shell structure with INR 100 Million (USD 2.5 million) with following initial equity:
. 49 % equity by GOI
. 51 % equity by Infrastructure organizations
Organizational Structure of DMICDC Board:
The organizational structure for DMICDC, headed by Secretary, Department of Industrial Policy & Promotion, Ministry of Commerce & Industries, Government of India, includes three directors from Government of India and four from financial institutions
The First Board Meeting of DMICDC held on 28th January, 2008 under the chairmanship of Secretary, Department of Industrial Policy & Promotion, Ministry of Commerce & Industries, Government of India.
Expert Panel of DMICDC:
Experts from various banking and infrastructure organizations, as well as central and state government representatives are proposed in the Expert panel which will advise the DMICDC.
Head of Japan External Trade Relation Organization (JETRO), New Delhi Office would be a special invitee. In addition, representatives from respective central and state government agencies will be the other special invitees for Board Meetings of DMICDC.