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

The Indian cabinet has endorsed a plan for constructing a special industrial corridor between Jabalpur, Bhopal, and Indore, with a potential investment of ₹3 lakh crore. Chief Minister Mohan Yadav announced that seven districts from these three cities will be included in the corridor. The first phase will commence on 10,000 acres, and there is a possibility of a massive investment of Rs 1 lakh crore by March 2028. The state government will invest Rs 3 lakh crore within three years, aiming to create over six lakh jobs.

The government owns the special purpose vehicle (SPV) that will handle the project, which will begin with a capital of Rs 100 crore. The SPV will focus solely on setting up industries, investment, and job creation, rather than building roads. The government plans to promote sectors such as tourism, engineering, manufacturing, defence aerospace, logistics, food processing, IT, electronics, and logistics in various regions.

The government aims to form the SPV within a week, with GIS mapping and a land bank for the corridor ready in six months. The master plan for the primary hubs will be completed within a year. The infrastructure building and land allotment process will also take place concurrently. Government land will have priority for the project, but private land acquisition may be necessary as per laws and owner consent.

A high-level general governing council, chaired by the Chief Minister, will oversee the smooth running of the SPV. The company will have the authority to identify, manage, acquire, develop, zone, plan, allot, lease/sub-lease, monetize land, and arrange basic infrastructure. The government has authorized the Industrial Policy and Investment Promotion department to coordinate with various departments for issuing necessary notifications, government orders, and legal documents related to the project.