During the Summit meeting held between India and United Kingdom in February, 2013, the Prime Ministers of both the countries welcomed the development in cooperation on
infrastructure since the last summit. They noted UK’s interest in cooperating with India for the development of a new Bengaluru-Mumbai Economic Corridor (BMEC).
The leaders agreed to examine and evolve the modalities and content of a feasibility study of this project concept through mutual discussions and to work out a roadmap
for a possible partnership in this area.
The TORs for the feasibility study were finalized in consultation with the Department of Economic Affairs,
the UK side and DMICDC which has been appointed as the nodal agency on the Indian side for the project. UK Trade and Investment (UKTI) is the nodal agency on the UK side
for the project. The nodal officer on the Indian side is Mr Talleen Kumar, Joint Secretary, DIPP while the nodal officer on the UK side is Mr Barry Lowen, Director, UKTI.
A RFQ-cum-RFP for selection of a consultant for conducting the study was floated by DMICDC in November, 2013 and a letter of award has been issued to M/s Egis India
Consulting Engineers Pvt. Ltd. in JV with IAU ile-de-France & CRISIL Risk & Infrastructure Solutions Limited on 14th February, 2014. As per the Terms of Reference,
the study should be completed in about 8 months after award of the work. The feasibility study will be funded by the Government of India. It has also been decided that
there will be a Joint Steering Group only for the project and not for the feasibility study. However, while the study is in progress, the financing models could be fine tuned
simultaneously by the two sides.
The institutional and financial structure for BMEC needs to be discussed keeping in mind the requirements
of the project on which clarity will emerge only after the completion of a substantial portion of the feasibility study.