The government of Japan has proposed a special loan of $1.5 billion (approx Rs 9,318 crore) for the Delhi-Mumbai Industrial Corridor (DMIC) project for a period of 40 years.

The special loan called 'official development assistance (ODA)' will include certain conditions such as preference to a Japanese company for goods, services and consulting contracts.

Further, as per the conditions applied by the Japanese government, not less than 30 per cent of the total price of contracts (excluding consulting services) shall be accounted for by either goods from Japan and services provided by a Japanese company, or goods from Japan only, depending on the nature of the project.

Delhi-Mumbai Industrial Corridor covers an overall length of 1,483 km and passes through the states of Uttar Pradesh, National Capital Region (NCR) of Delhi, Haryana, Rajasthan, Gujarat and Maharashtra, with end terminals at Dadri in the NCR of Delhi and Jawaharlal Nehru Port near Mumbai.

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