PRIDe to generate $25 billion investments

Published: 19th February 2013 09:45 AM  |   Last Updated: 19th February 2013 09:45 AM   |  A+A-

The Department of Industrial Promotion and Policy (DIPP) has been silently working on making the Peninsular Region Industrial Development Corridor (PRIDe Corridor) project a reality.

UK Prime Minister David Cameron, who is in India on an official visit, referred to the PRIDe Corridor as the Mumbai-Bangalore Corridor.  Addressing a gathering in Mumbai, Cameron said that the corridor would generate investments up to $25 billion.

The DIPP is in the process of preparing an ambitious road map for strong industrial and transport connectivity from the Mumbai coast to Chennai coast through the PRIDe Corridor. It is being planned on the lines of the Delhi-Mumbai Industrial Corridor. According to the proposed plan, the corridor will pass through Chitradurga, Dharwad and Begaum. The Union government has proposed to develop a parallel road and rail connectivity from one end of the corridor to another to provide seamless travel.

“The corridor is expected to expedite the development of 150 km on either side. Industrialists who want to set up their firms in the region need not struggle for power as the Dabhol-Bangalore Gas Pipeline passes through the corridor. It will facilitate the setting up of gas-based power plants,” P B Ramamurthy, MD of Karnataka State Industrial and Infrastructure Development Corporation Limited told Express. The government has already initiated the process to set up special investment region in over 25,000 acres of land near Dharwad and national investment and manufacturing zone near Tumkur as part of the proposed corridor.

According to Ramamurthy, Japan International Cooperation Agency is preparing a road map for industrial growth in the area by preparing a draft report.

Industries Minister Murugesh Nirani said: “The corridor would be on the full length of the NH4 from Mumbai to Chennai via Bangalore. Each state will have to make investments in their region. Our stretch is nearly 500 km long. Land will be given only on demand and will be dry/waste land. Though we have identified one lakh acres, we do not want to curb the farmers rights until we have guaranteed investments. We require 70 per cent consent from the local farmers for land acquisition. There is no specific time frame and it could extend to 25-30 years.”

India Matters


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