DMICDC finally gets new CEO

The government had shortlisted several big names from the private sector including Lamp;T Infrastructure Finances CEO Suneet Maheshwari,Gammon India CEO Parvez Imrigar and Shailesh Pathak from ICICI Venture. But the search committee under the Cabinet Secretary could not zero in on any names because either the candidates were not keen or they demanded private sector-like salaries.

The government finally settled for an officer from its own resource base who will serve as the CEO on normal deputation terms that is on the salary of a government employee of his rank.

The project has already received 75 million funding from Japan Bank for International Co-operation JBIC. The JBIC committed the funds during Prime Minister Manmohan Singhs visit to Tokyo late last year. This will be routed through India Infrastructure Corporation Limited IIFCL and used for undertaking the preparatory work for the project.