Visakhapatnam: The Asian Development Bank (ADB) will extend a $625 million loan for Vizag-Chennai industrial corridor, ADB India country director Teresa Kho announced.
Addressing the CII Partnership Summit in this coastal city, she said ADB would work with Andhra Pradesh in developing the infrastructure nodes as part of the Vizag-Chennai Industrial Corridor(VCIC).
She said VCIC will play a critical role in Prime Minister Narendra Modi's Act East policy. She told the summit that VCIC has the potential to create 11 million jobs in next 30 years.
"It is estimated that GDP in corridor districts will increase by six times and manufacturing output by seven times over the next two decades," she said.
The $850 million project is expected to change the face of Andhra's coastal belt from Srikakulam to Srikalahasti.
Four major infrastructure nodes will come up in Andhra Pradesh along 900-km long coastline. These nodes are Vizag, AKakinada, Gangavaram-Kankipadu and Yerpadu-Srikalahastri.
The Asian Development Bank (ADB) will extend a $625 million loan for Vizag-Chennai industrial corridor,
Addressing the CII Partnership Summit in this coastal city, she said ADB would work with Andhra Pradesh in developing the infrastructure nodes as part of the Vizag-Chennai Industrial Corridor(VCIC).
She said VCIC will play a critical role in Prime Minister Narendra Modi's Act East policy. She told the summit that VCIC has the potential to create 11 million jobs in next 30 years.
"It is estimated that GDP in corridor districts will increase by six times and manufacturing output by seven times over the next two decades," she said.
The $850 million project is expected to change the face of Andhra's coastal belt from Srikakulam to Srikalahasti.
Four major infrastructure nodes will come up in Andhra Pradesh along 900-km long coastline. These nodes are Vizag, AKakinada, Gangavaram-Kankipadu and Yerpadu-Srikalahastri.
Also Read: 10 Weird New Year's Resolutions That are Worth A Try
Attacks, Threats to Journalists Galore in 2015: Report
Magazine : 
.jpg "PMP Institutes")
.jpg "Kids Campus International Preschool : Where Every Child's Uniqueness takes Center Stage in Learning & Growth")