A team of officials from the International Finance Corporation (IFC) led by Jaju recently held a review meeting here. IFC had been appointed as an adviser to Incap last year. It is expected to help develop public-private partnerships for the project, a combination of new and existing toll roads and connecting radial roads.
According to Jaju, the six-lane road would be built connecting the ports of Visakhapatnam, Gangavaram, Kakinada Deep Water Port and the new port coming up in the Thondangi mandal of East Godavari district exclusively for the Kakinada Special Economic Zone.
The road would be connected to NH-5 at Tuni or Annavaram. In the first phase, the road would be laid between Bhimili in Visakhapatnam district and Kakinada while in the second phase the stretch would be between Kalingapatnam (Srikakulam) and Bhimili.
The third phase would link Kakinada to S Yanam where the Ravva offshore oilfield is situated. Jaju said 150,000 acres had been identified for the industries and the SEZs in the coastal corridor. The government would also develop tourism in the corridor.
The corridor would also have a dedicated drainage channel for carrying the treated industrial effluents to the Bay of Bengal. Godavari water would be made available to the industries through various canals including the Polavaram left canal and Puskhara canal.
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According to IFC, the coastal corridor project is expected to include about 100 km of radial roads that connect a 150-km coastal road to National Highway 5. IFC will undertake a due diligence review, help design the financial model, and hold consultations with potential bidders.
IFC will also recommend an approach for private sector involvement, including allocating risks and responsibilities between the private and public sectors.