Vizag-Chennai Industrial Corridor: Construction of the Vizag-Chennai Corridor is well underway.
In two and a half years, 508.61 crore worth of work was completed.
The first phase cost Rs. 2,278.61 crores.
The second phase will cost Rs 2,599.56 crore.
Amravati: The Visakhapatnam-Chennai Industrial Corridor (VCIC), which is critical for the state's industrial development, is now under construction. The corridor would be built in two phases at a total cost of Rs 5,544 crore. The state government expects to finish the development work under the first phase by March 2023, at a cost of Rs 2,278.61 crore. Work worth Rs 815.17 crore has already been done, with the rest nearing completion.
Only Rs 306.56 crore worth of work was completed during the previous administration. The YSRCP government has completed work worth Rs 508.61 crore in the last two and a half years. The one MLD sewage treatment facility in the Naidupet cluster and Srikalahasti-Erpedu cluster power supply works have already been completed. By the end of this year, APIIC officials hope to have the crucial infrastructure in place for the Naidupet and Achuthapuram clusters, such as water and power.
Second Phase Work Commences
APIIC is also working on the second phase, which will cost Rs. 2,599.56 crores.
The Asian Development Bank will lend Rs 4,125 crore to the project, while the state government will pay Rs 1,419 crore.
Under this project, 4,316 acres at Nakkapalli in Visakhapatnam Node, 2,532 acres at Rambilli, 13,319 acres at Chittoor South Block Node, and 2,596 acres at Kopparthi in Wissar District are being developed for industrial purposes.
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The state's industrial output is expected to expand sevenfold and the state's GDP to increase sixfold once VCIC is fully operational. State manufacturing output, which was Rs 1.11 lakh crore in 2015, is expected to increase by Rs 2 lakh crore to Rs 7,82,300 crore by 2035, and gross domestic product to Rs 11.60 lakh crore. A total of 1.10 crore new employment are estimated to be created.