IMEC: A Big Booster for India's Infra Construction Sector
The 8000 km multimodal transport corridor known as the India Middle-East Europe Corridor (IMEC) initiated at the recent G20 Conclave in New Delhi, is set to open up a multi-billion dollar opportunity for the growth of India’s infrastructure and construction companies.
Vinod Behl
India, USA, Saudi Arabia, UAE, European Union, Italy, France, and Germany have inked an MoU for the landmark IMEC project that comprises an eastern corridor connecting India to the Gulf region and a northern corridor connecting the Gulf region to Europe. These corridors will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime and road transport routes, enabling goods and services to transit to, from, and between India, UAE, Saudi Arabia, Jordan, Israel, and Europe. Along the railway route, there is a plan for laying cables for electricity and digital connectivity and pipes for export of cleaner hydrogen. The corridor will secure regional supply chains, increase efficiencies, and reduce costs, and, in turn, enhancing trade accessibility and facilitation.
Vinod Behl
India, USA, Saudi Arabia, UAE, European Union, Italy, France, and Germany have inked an MoU for the landmark IMEC project that comprises an eastern corridor connecting India to the Gulf region and a northern corridor connecting the Gulf region to Europe. These corridors will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime and road transport routes, enabling goods and services to transit to, from, and between India, UAE, Saudi Arabia, Jordan, Israel, and Europe. Along the railway route, there is a plan for laying cables for electricity and digital connectivity and pipes for export of cleaner hydrogen. The corridor will secure regional supply chains, increase efficiencies, and reduce costs, and, in turn, enhancing trade accessibility and facilitation.
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NBM&CW October 2023
