New Delhi: The master planning of Visakhapatnam-Chennai Industrial Corridor (VCIC) is under way with the grant of $631 million by Asian Development Bank (ADB).
Minister of State of Commerce and Industry CR Chaudhary gave reply in the Lok Sabha. The two nodes of VCIC Yerpedu-Srikalahasti and Visakhapatnam after completion of master planning, detailed preliminary engineering and approval of National Industrial Corridor Development and Implementation Trust (NICDIT) Government of India released funds for projects for development of industrial corridors.
Four nodes namely: Visakhapatnam, Kakinada, Kankipadu-Gannavaram and Yerpedu-Srikalahasti of Andhra Pradesh, have been identified for development in Vishakhapatnam-Chennai Industrial Corridor (VCIC) on the basis of Conceptual Development Plan (CDP) prepared by ADB.
The fund given by ADB is
- US $500 million two-tranche MFF to build key infrastructure
- US $125 million two-tranche Policy Based Loan (PBL) to support policy reforms and institutional development in the state
- US $5 million grant from the multi-donor Urban Climate Change Resilience Trust Fund (UCCRTF) to build climate change resilient infrastructure in Visakhapatnam
- US $1 million technical assistance to help the Andhra Pradesh Government implement policy reforms
