VISAKHAPATNAM: The Visakhapatnam-Chennai Industrial Corridor (VCIC) has gained momentum with the government giving administrative sanction for six subproject works worth Rs 1,346.66 crore on Thursday.
The VCIC is envisaged as a node centric development platform with four nodes, which include Visakhapatnam Node, Machilipatnam Node, Donakonda Node and Yerpedu - Srikalahasti Node.
Visakhapatnam Node and Yerpedu- Srikalahasti Node have been prioritised for making initial investments. The VCIC aligned with the Golden Quadrilateral project is poised to play a crucial role in driving India’s Act East Policy and Make in India campaign. The nearly 800 km corridor links India with the Association of Southeast Asian Nations (ASEAN).
The corridor traverses nine districts of the State. The VCIC project supports the Union government’s strategy to develop industrial corridors of international standards for expanding manufacturing and service sectors and creating modern urban centres connected by the stateof- the-art infrastructure.
Asian Development Bank (ADB) has been chosen as the lead partner for developing the VCIC, in consultation with the Department for Promotion of Industry and Internal Trade (DPIIT). The VCIC is expected to attract Rs 1,00,000 crore investment and generate employment for 110 lakh people.