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A detailed project report on building the Chennai-Bangalore industrial corridor project is expected to be ready by end of this year, said T K A Nair, advisor to the Prime Minister. The report will indicate what would be the cost of the project and how it can be funded. Speaking to reporters on the sidelines of inaugurating Glass Fibre Reinforced Gypsum (GFRG) Demo Building constructed under IIT's Affordable Rapid Mass Housing for India R&D project, Nair said the Chennai-Bangalore industrial corridor will be a reality and the project report is getting prepared by the Japan International Cooperation Agency (JICA) and the Japanese government will fund the project.
"Once the report is ready it will indicate what will be the cost of the project, mode of funding and other aspects," said T K A Nair. In the first phase the corridor will be upto Bangalore from Chennai and later it will be extended to Andhra Pradesh.
Discussions are on with Tamil Nadu, Karnataka and Andhra Pradesh state governments, he added.
Major beneficiaries would be Japanese companies when the project goes on stream since export and import and moving the produced across the country will be smooth, said Nair. He noted there are around 400 Japanese companies in and around Chennai and they want the road and other infrastructure to be improved to enable them to ship out their goods smoothly.
It may be noted Japanese Prime Minister had announced 13 billion yen for Tamil Nadu Investment Promotion Programme.
