VIJAYAWADA: With the Centre approving the proposal and making budgetary allocation for the development of Krishnapatnam Industrial Area (Node) in Nellore district under the Chennai-Bengaluru Industrial Corridor (CBIC) at an estimated cost of Rs 2,139.44 crore, the State government is hopeful of rapid industrialisation of the region in the near future.
Stating that an industrial estate will be developed at Krishnapatnam with Central funds, Industries and Commerce Minister Mekapati Goutham Reddy felt that it will immensely benefit the State in the future. The Centre and the State government will have equal share in the 2,000 acre project.
Speaking to TNIE, Goutham Reddy said that more than 12,000 acres of land is available at Krishnapatnam Node under the CBIC. Even after the development of industrial area in 2,000 acres with the Central funds, the State government will still have 10,000 acres abutting it. “We will have all advantages to promote rapid industrialisation in the region. The government is also planning to develop another industrial area in Visakhapatnam - Chennai Industrial Corridor,” he said.
Asserting that the Krishnapatnam Node development will commence soon with the Centre’s approval, he opined that the greenfield industrial cities will be self-sustained with world-class infrastructure, road and rail connectivity for freight movement to and from ports and logistic hubs along with reliable power and quality social infrastructure. Krishnapatnam Node is expected to generate employment to around 98,000 people on completion of the first phase.
The Cabinet Committee on Economic Affairs under the chairmanship of Prime Minister Narendra Modi, approved the proposals of Department of Promotion of Industry and Internal Trade (DPIIT) for construction of various trunk infrastructure components.
It’s a Rs 2,139.44 crore project
The Cabinet approved the development of Krishnapatnam Industrial Area in AP with Rs 2,139.44 crore, Tumkur Industrial Area in Karnataka with Rs 1,701.81 crore, Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) at Greater Noida with Rs 3,883.8 crore