Date Of Post: 18 May, 2018
New Delhi: The Cabinet Committee on Economic Affairs (CCEA) approved the development of trunk infrastructure components for the integrated multi-modal logistics hub known as Freight Village at Nangal Chaudhary in Haryana under the Delhi-Mumbai Industrial Corridor Project, a statement said.
The trunk infrastructure components include roads and services, building complex, water, sewage and common effluent treatment plant.
- The development of the Freight Village in Haryana will be on a 886.78 acres of land plot which will be implemented by the project Special Purpose Vehicle (SPV) in 2 phases.
- The statement said, a financial sanction of Rs 1029.49 crore for development of Phase-I and in-principle approval for development of Phase-II of the project has also been given by the CCEA.
- It said, expenditure on Phase-I comprises cost of entire land at Rs 266 crore including cost of the land to be used for development of Phase II.
- The CCEA has also approved an investment of Rs 763.49 crore by the NICDIT (National Industrial Corridor Development & Implementation Trust) which includes Rs 266 crore as equity and Rs 497.49 crore as debt in the SPV.
Delhi-Mumbai Industrial Corridor:
- The $100-billion Delhi-Mumbai Industrial Corridor, conceived in 2006 by the then Prime Minister Manmohan Singh as a global manufacturing & investment destination, by utilising the high capacity 1,483 kilometer long Western Dedicated Freight Corridor (DFC), as the backbone, was supposed to be ready by 2017.
- As of now, the revised targets are 2020-21 for phase-I of the project & Phase-ll of the project will be reappraised in 2028 or earlier.
- The Freight Village will be connected through Western Dedicated Freight Corridor (DFC) at Dabla, which is at a distance of approx 10 kms.
- This logistics hub integrated with the DFC would have high speed connectivity to key ports & industrial Centres, lower cost of supplying goods, real time freight tracking and data analysis, last mile gateway port connectivity from the hinterland and other advantages.
Image Credit: Adani Ports