National

Vizag-Chennai corridor: ADB to submit initial report by Oct 15

Our Bureau Visakhapatnam | Updated on July 24, 2014 Published on July 24, 2014

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Two important industrial corridors will be passing through Andhra Pradesh — one from Visakhapatnam to Chennai covering the nine coastal districts and the other from Bangalore to Chennai touching Hindupur, Krishnapatnam and Chittoor — triggering growth in the State, according to AP Industries Commissioner Rajat Kumar.

Growth prospect

Addressing members of the Visakhapatnam zone of the Confederation of Indian Industry, he said here on Thursday that the Asian Development Bank had been appointed the lead agency for the Vizag-Chennai corridor and the detailed proposals and initial report may be submitted by October 15. “This corridor, likely to be extended to Tuticorin on one side and Kolkata on the other later, is the most important one for AP as it covers all the ports and Chennai city,” he said and added that the other corridor — from Bangalore to Chennai — would touch two Rayalaseema districts and Nellore. Krishnapatnam port and the upcoming major port at Durgarajapatnam in Nellore will be very important for the corridor, he said.

Investment zones

He said two major national manufacturing investment zones — one at Chittoor and the other in Prakasam district — will be established, with an estimated investment of ₹31,000 crore and ₹43,000 crore respectively and will have an employment potential of 5 lakh (direct and indirect) in each zone.

Gujarat model

The Vizag-Kakinada Petroleum, Chemicals, Petro-chemical Investment Region (PCPIR) will be the third most important project in the State as a major oil refinery by HPCL would come up in the region. It has the potential to attract an investment of more than ₹3 lakh crore.

Rajat Kumar said the AP Government was planning to set up a State-level investment zone, on the Gujarat model, to suit its needs.

Published on July 24, 2014

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