Institutional Framework for DMIC
DMIC comprises of a large number of projects, some of which would be amenable to commercial implementation on a Public-Private-Partnership (PPP) basis. However, there would also be a large number of projects within the DMIC, which would require to be implemented departmentally by Government. Thus there is a need draw a distinction between project preparation and development, and project financing and implementation.
Accordingly, it is envisaged that implementation of DMIC project will be through a four-tier institutional framework that would constitute:
(i) An Apex Authority, that could be headed by Finance Minister with the concerned Central Ministers and Chief Ministers, as members, to oversight the entire program and to ensure that the necessary policy and administrative issues are tackled appropriately within the defined framework.
(ii) A Dedicated Corporate entity, DMICDC (Delhi Mumbai Industrial Corridor Development Corporation) that functions as a servicing agency for the Apex Committee and coordinates execution of various tasks under the guidance of empowered group arrange financing, and provide advisory services for successful project implementation.
(iii) A State-level Coordination Entity/ Nodal Agency responsible for coordination between the DMICDC and various state government entities and the project implementing agencies/ special purpose vehicles.
(iv) Project Specific Entities, such as Special Purpose Vehicles, for individual projects viz. airport, port, industrial area, road, power etc, to mobilize financial resources through appropriate consortia and undertake actual implementation, operation and maintenance.
The above structure supported by the induction of specialized agencies at each level, in the arena of infrastructure financing/project management or implementation, would ensure that necessary managerial capability is available for implementing DMIC.
A brief description of the constitution, roles and responsibilities of the Apex Authority, the Dedicated Corporate Entity DMICDC, State-level Nodal Agency and the Special Purpose Vehicles that would be created for each of the project components is presented hereafter: