AP is seriously contemplating bringing in a new Act pertaining to the proposed industrial corridors as per a report in Times Of India. The draft of the proposed legislation will be placed before the state cabinet to be held later this month for clearance. The Act has become necessary for formation of industrial corridors.
The Act moots for an industrial corridor authority, which will serve as a special purpose vehicle to implement the industrial corridor projects. In all probability, the chief minister will head the authority. The state level authority will take up the execution of projects in coordination with Andhra Pradesh Industrial Infrastructure Authority (APIIC) and APTransco. Both the agencies have already floated tenders for work relating to Visakhapatnam-Chennai Industrial corridor. The land required for the Authority will be allotted by APIIC. The authority also will be instrumental in preparing detailed master plans for various projects in the two corridors.
However, the work on Bangalore-Chennai corridor has not yet begun. It covers Krishnapatnam in Nellore and Hindupur in Anantapur districts. Maharashtra and Gujarat have already formulated similar Acts with special investment regions on the lines of special economic zones (SCZ).