In a first major initiative aimed at facilitating industrial investments into Andhra Pradesh, Asian Development Bank (ADB) on Tuesday offered to develop industrial nodes with complete facilities along the proposed Visakhapatnam-Chennai industrial corridor projects.
The development of the proposed industrial corridor was one of the important commitments given to the truncated AP by the Centre under the AP Reorganisation Act.
The industrial nodes will have all the infrastructure like power, water and effluent treatment facilities, apart from connectivity to the ports and the nearest national highway, according to a senior government official.
ADB country director Hun Kim, who met chief minister N Chandrababu Naidu today morning, discussed the plan involving an investment of $ 2.5 billion, according to an official statement.
“ADB said that it will set up industrial zones in the state within six months. It will depute a special officer to monitor the project’s progress,” a statement by the AP’s media advisor office said.
Under this externally-aided project, two industrial nodes will be developed on a priority basis -- one at Visakhapatnam and the other one at Yerpedu-Venkatagiri area in Chittoor and Nellore districts.
“The Visakhapatnam industrial node will be connected to the Vizag seaport and also with the nearby national high way with a dedicated trunk-line, while a similar trunk line was proposed for the Erpedu-Venkatagiri industrial node to have a seamless connectivity with Krishnapatnam seaport and the adjoining national highway,” a senior AP official told Business Standard. A detailed project report is currently under way, according to the official.
The official statement said that five industrial zones were planned on the proposed Visakhapatnam-Chennai industrial corridor with the other three at Kakinada, Machilipatnam and Anantapur. “Kim has assured the chief minister that they would also help the state government attract investors from China, Japan, South Korea and European countries,” it added.
It may be recalled that Japan International Cooperation Agency (JICA) was asked to develop similar industrial nodes in Tamil Nadu and Karnataka on the Chennai-Bangalore express way project, which was proposed to be extended up to Krishnapatnam port in AP. The Centre has chosen ADB to fund and develop a similar infrastructure further deeper into the state through this corridor, which will potentially drive the port-based industrial economy that the state aspires to build in the days to come.
