The project envisages development of five industrial zones. These zones are to come up in Visakhapatnam, Kakinada, Machilipatnam, Anantapur and Erpedu-Srikalahasti. “ADB will fund about $2.5 billion through government of India, ministry of commerce and industry . The partnership between AP government and ADB will give a boost to industrial development across Andhra Pradesh,“ Parakala Prabhakar, advisor to AP government, told TOI. Apart from the financial assistance, the ADB chief said the bank would help the state government attract investors from China, Japan, South Korea and European countries, Prabhakar added.
Apart from the five cities and towns in the state that the industrial corridor would pass through, Rajahmundry , Bhimavaram, Nuzivedu, Vijayawada, Guntur, Bapatla, Ongole, Nellore, Gudur and Naidupeta would also stand to gain in the form of rapid industrial development. The corridor envisages self-sustaining industrial townships with world-class infrastructure, road and rail connectivity for freight movement to and from ports and logistics hubs, domestic, international air connectivity , uninterrupted power and quality social infrastructure. As part of the project, several industrial clusters are likely to come up in the seven coastal districts of AP . In his budget presentation, Union finance minister Arun Jaitley had specifically mentioned the development of Kakinada port in East Godavari district and also a hardware cluster in the region.
With experts from PricewaterhouseCoopers and John Arnold, an independent consultant working under the guidance of the Department of Industrial Policy and Promotion under the Union ministry of commerce and industry overseeing the VizagChennai industrial corridor project, ADB joining the venture would hasten the pace of the project implementation, felt AP government officials.