Andhra Pradesh Industrial Corridors to Attract Rs 1 Lakh Crore Investment
8 July 2022
The three industrial corridors of Andhra Pradesh, the Chennai - Bengaluru Industrial Corridor (CBIC), Visakhapatnam - Chennai Industrial Corridor (VCIC) and Hyderabad - Bengaluru Industrial Corridor (HBIC), was highlighted by Mr. Gudivada Amarnath, Minister of Industries, Infrastructure, Investment, and Information Technology in his speech at the Apex Monitoring Authority on National Industrial Corridor Development and Implementation Trust (NICDIT), chaired by Ms. Nirmala Sitharaman, Finance Minister of the Government of India.
The three corridors, to be implemented with financial assistance from the Asian Development Bank (ADB) and the National Industrial Corridor Development and Implementation Trust (NICDIT), will span over 25,000 acres, and is set to attract more than Rs 1 lakh crore (around $12.56 billion) investments and generate employment for 5.5 lakh (550,000) people by 2040, according to Mr. Amarnath.
His speech highlighted the following:
- Under CBIC, the industrial node at Krishnapatnam, to take up over 12,000 acres, is expected to attract an investment of Rs 37,500 crore (around $4.74 billion) and generate employment for 4.6 lakh (460,000) people in three phases by 2040;
- Under VCIC, three industrial nodes and clusters will be developed in Vizag, Kadapa and Tirupati. In Vizag, the Nakkapalli cluster is spread over 4,319 acres. Of this, 3,199 acres of land is being developed under the National Industrial Corridor Development Corporation (NICDC) framework. This is expected to attract an investment of Rs 33,500 crore (around $4.23 billion) and generate employment for 26,700 people by 2040. In Kadapa, Kopparthy Node is spread over 6,740 acres and out of this, 2,596 acres of land is being developed under the NICDC framework. This will attract an investment of Rs 7,790 crore (around $984.26 million) and generate employment for 78,700 people.
- Under HBIC, an industrial node will be developed at Orvakal, to be spread over 9,000 acres. 4,713 acres will be earmarked for development under the NICDC framework, which is estimated to attract an investment of Rs 37,300 crore (around $4.71 billion), and generate employment for 77,000 people.
The Minister noted that the NICDC will provide funding assistance for development of internal infrastructure. He urged the Government to provide aid for external linkages, such as roads, water, power and gas, since these are also essential for the development of industrial areas.
Industrial corridors to get Rs 1L cr investment, generate 5.5 lakh jobs
India: Visakhapatnam–Chennai Industrial Corridor Development Program
India: Visakhapatnam-Chennai Industrial Corridor Development Program: Project 1
India: Supporting the Preparation of a Comprehensive Master Plan for the Chennai–Kanyakumari Industrial Corridor