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Land allocation for $100 bn DMIC project to begin in October; Ikea, Kia Motors eye plots

NEW DELHI: The $100-billion Delhi Mumbai Industrial Corridor, one of India's most ambitious infrastructure projects, will kick off land allotments next month and those eyeing plots are said to include big global investors like Ikea, Kia Motors and China Railway Construction Corp. 

The allocations will mark a significant step forward in a project that was approved by cabinet in 2011. Other potential investors include German wind turbine manufacturer Senvion, Korean Land & Housing Corp. and Chinese real estate company Country Garden, said a person with knowledge of the matter. The land will be fully developed with world-class infrastructure, a big attraction for investors ready to pay a premium for clean titles in four brand new industrial cities being developed as part of the project. 

The Delhi Mumbai Industrial Corridor Development Corp. (DMICDC) has received several queries about available land with many asking for assurances of litigation-free land in the past few weeks, said the person cited above. The companies couldn't be immediately reached for comment.  Many of those seeking land are said to have informally visited sites to inspect infrastructure and availability. 

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