Centre apprises Parliament status of 12 industrial smart city projects

New Delhi [India], December 6 (ANI): The government has approved 12 new industrial smart city projects in August with a total project cost of Rs 28,602 crore (including land cost) for development of trunk infrastructure packages, Union Minister of Commerce and Industry Piyush Goyal in a written reply in the Rajya Sabha said Friday.
As per the approved institutional and financial framework of Industrial Corridor Programme, State Govt provides land and Government of India through National Industrial Corridor Development and Implementation Trust (NICDIT) provides the equity for development of internal trunk infrastructure components.
The tentative construction timelines of trunk infrastructure are 36-48 months from the actual date of appointment of EPC Contractor.

Each industrial city/area/node under National Industrial Corridor Development Program is managed by a Special Purpose Vehicle (SPV). SPV may have suitable representation from private sector wherever the State Government decides to involve the private sector.
It is also authorized to leverage innovative infrastructure funding and delivery tools such as user fee funding, pricing innovations, and delivery through various PPP arrangements for development of industrial smart cities. The State Government, as deemed appropriate, may also seek bi-lateral/multi-lateral funding for this purpose.
Focus sectors are defined differently for different industrial smart cities. The process involves preparation of market demand assessment report for defining focus sectors. Some of the focus sectors are Heavy Engineering, Auto and Ancillaries, General manufacturing, Pharma & Bio Tech, Electronics Industries, IT& ITES, Agro, Food processing, Computer, Electronic and Optical Products, Aerospace, Rubbers & Plastic, Fabricated Metal Products, R&D, ICT, Electronics Industries, Fabrications (semiconductors), Nanotechnology and Opto electronics. (ANI)