Cabinet Approves SPV For Jabalpur-Indore Industrial Corridor--₹3 Lakh Crore May Be Invested

Bhopal (Madhya Pradesh): The cabinet on Thursday approved the proposal for the construction of a special industrial corridor for special purpose vehicle between Jabalpur, Bhopal, and Indore.

In an interaction with journalists, Chief Minister Mohan Yadav said seven districts of these three places would be part of the corridor.

In the first phase, the work will begin on 10,000 acres, and there are possibilities of an investment of Rs 1 lakh crore by March 2028, he said.

He further said the government would invest Rs 3 lakh crore in three years and provide jobs to more than six lakh people.

The government totally owns the company handling the work, he said, adding that it will begin with a share capital of Rs 100 crore.

The company will not build road and focus only on setting up industries, investment, and creating jobs.

The government will encourage tourism, engineering, manufacturing, defence aerospace, and logistics in Jabalpur; food processing and food park in Narsinghpur and Raisen; IT, and electronics sectors in Bhopal; logistics, manufacturing, and warehousing in Sehore and Dewas; and IT, services, and advance manufacturing in Indore, he said.

The government will form SPV in a week, he said, adding that GIS mapping and a land bank for the corridor will be ready in six months.

According to Yadav, the master plan for the primary hubs will be ready within a year.

The infrastructure building, together with land allotment process, will also take place during this period, he said.

The government land will get priority for building the corridor, he said.

But in case of necessity, the state will acquire private land according to laws and with the consent of its owners, he said.

To run the company smoothly, the government will set up a high-level general governing council chaired by the chief minister.

A special company will be equipped with powers for the fast and systematic development of the economic hub.

The powers included identification of land, land management, land acquisition, land development, zoning, master planning, layout, land allotment, lease/sub-lease, monetisation and for arranging basic infrastructure.

The government has authorised the industrial policy and investment promotion to coordinate with the finance, revenue, urban development and housing, Panchayat and rural development, water resources, energy, PWD, forest and law departments for issuing notifications, government orders, and other legal documents associated with the project.