ADB Team Discusses Core Issues of VCIC with VPT Chief

The Asian Development Bank (ADB) team comprising experts from Pricewater House

Published: 08th July 2014 08:10 AM  |   Last Updated: 08th July 2014 08:10 AM   |  A+A-

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VISAKHAPATNAM: The Asian Development Bank (ADB) team comprising experts from Pricewater House Coopers (PWC) and an independent consultant John Arnold met chairman of the Visakhapatnam Port Trust (VPT) MT Krishna Babu Monday to discuss the core issues of the Vizag-Chennai Industrial Corridor (VCIC).

The Union and state governments have proposed the VCIC to boost the economic prospects of the truncated state of Andhra Pradesh with an investment of `1 lakh crore, thereby providing 50,000 jobs in the first phase of the proposed project.

The proposed VCIC will be developed in four phases on the lines of Delhi-Mumbai Industrial Corridor project, which has been sanctioned as a part of the special package to Seemandhra region by the Union government.

Chairman of VPT Krishna Babu explained to the team about the VPT’s traffic, commercial operations and strategic perspectives.

The chairman also explained about the importance of the port and the future demand for cargo handling from the harbor as VPT is a major international gateway in the region with linkage to several industrial hubs.

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