VIJAYAWADA: Industries and Commerce Minister Gudivada Amarnath has said three industrial corridors in Andhra Pradesh spread over 25,000 acres will attract more than Rs 1 lakh crore investments and the industrial estates will generate employment for 5.5 lakh people by 2040.
Speaking at the meeting of the Apex Monitoring Authority on National Industrial Corridor Development and Implementation Trust (NICDIT) held under the chairpersonship of Union Finance Minister Nirmala Sitharaman on Thursday, the Industries Minister said, “We are the only State in the country to host the implementation of three industrial corridors. They include Chennai - Bengaluru Industrial Corridor (CBIC), Visakhapatnam - Chennai Industrial Corridor (VCIC) and Hyderabad - Bengaluru Industrial Corridor (HBIC). The three corridors are being developed with the financial assistance from the Asian Development Bank (ADB) and the National Industrial Corridor Development and Implementation Trust (NICDIT).”
The minister who participated in the meeting virtually from the APIIC headquarters in Mangalagiri, said the State hosts an industrial node at Krishnapatnam, which spread over 12,000 acres under CBIC. It is expected to attract an investment of Rs 37,500 crore, besides generating employment for 4.6 lakh people in three phases by 2040.
Under VCIC, the State hosts three industrial nodes and clusters at Vizag, Kadapa and Tirupati. In Vizag, Nakkapalli cluster is spread over 4,319 acres and out of the total extent, 3,199 acres of land is being developed under NICDC framework. This will attract an investment of Rs 33,500 crore and generate employment for 26,700 people by 2040.
In Kadapa, Kopparthy Node is spread over 6,740 acres and out of which 2,596 acres of land is being developed under the NICDC framework. This will attract an investment of Rs 7,790 crore and generate employment for 78,700 people.
Under HBIC, the State hosts an industrial node at Orvakal, which is spread over 9,000 acres. Out of the total, 4,713 acres are earmarked for development under the NICDC framework, which will attract an investment of Rs 37,300 crore, besides generating employment for 77,000 people, the minister explained.
Stating that the NICDC is providing funding assistance for development of internal infrastructure only as per the existing provisions, he urged the Centre to provide aid for external linkages such as connecting roads, water, power and gas as external infrastructure is also equally important for the development of industrial areas.
3 industrial corridors
Chennai - Bengaluru Industrial Corridor (CBIC)
Visakhapatnam - Chennai Industrial Corridor (VCIC)
Hyderabad - Bengaluru Industrial Corridor (HBIC)
The three corridors are being developed with the financial assistance from ADB and NICDIT