DMIC is slated to be developed in two phases, with the project cost for the first phase being Rs 17,319 crore. Maharashtra Industrial Development Corporation (MIDC) and DMIC Trust has formed a joint venture to execute the project, in which MIDC will hold 51% stake, while the remaining 49% will be held by DMIC.

Phase one will include development of 84 square kilometre of Shendre-Bidkin industrial city, an engineering cluster, food park, textile and printing and construction cluster. It will also have a multi-modal logistic hub spread across 100 hectares of land in Karmad and an exhibition-cum-convention centre spread over 20 hectares in Aurangabad, alongwith water supply scheme for Shendre.

The second phase of the project will cover Dighi port industrial area, Dhule mega industrial park, Nashik-Sinnar-Igatpuri investment region, multimodal logistic park, Nashik-Sinnar-Igatpuri investment region, multimodal logistic park and greenfield mega city in Ahmednagar.

"Our contribution will be in the form of providing land, while the Centre's contribution would be to the tune of Rs 3,000 crore for each township project. For the rest, we have tied-up with the Japan International Cooperation Agency (JICA)," Maharashtra chief minister, Prithviraj Chavan said.The Shendre-Bidkin project is expected to generate 5 lakh jobs.

The DMIC projects in Maharashtra would cover nearly 29% of land area and 18% project influence area. Around 26% of the state's population would come under the corridor that covers eight districts - Thane, Raigad, Pune, Dhule, Nandurbar, Nashik, Ahmednagar and Aurangabad.