VIJAYAWADA: Wencai Zhang, Vice-President of the Asian Development Bank (ADB), lead partner of the Visakhapatnam-Chennai Industrial Corridor (VCIC) which is the key part of the East Coast Economic Corridor (ECEC), has said that the VCIC will boost the prospects of Andhra Pradesh in terms of industrialisation and generation of jobs.
Expressing satisfaction over the progress of the VCIC, he said that the nodes to come up at Visakhapatnam and Srikalahasti in Chittoor district, besides several industrial clusters, will attract more investments.
“Apart from extending financial assistance, the ADB will also facilitate investors. We are working together with the State government on skill training and knowledge sharing,’’ he said. Stating that they have already given $80 million, he said that they will release more funds in the near future for expediting VCIC works.
Interacting with media persons in the Interim Government Complex in Velagapudi on Thursday, Wencai Zhang hailed the State government for initiating several reforms and achieving the top rank in Ease Of Doing Business (EODB).
“We are very much impressed with the support being extended by Chief Minister N Chandrababu Naidu, Chief Secretary and Industries Department,” he said and hinted at considering any proposal with regard to funding assistance for construction of the capital city. He said that the State government’s proposal for a loan of $500 million for rural water supply is under consideration of ADB.
Making it clear that interest of silent stakeholders will not be compromised and environmental issues will be taken care of during VCIC implementation, he said that they have not received any complaints on this aspect and hoped that the procedure will go smooth. He also mentioned that the ADB will spend $1 billion in the backward States in five years.
