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Sriharsha
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The proposed Visakhapatnam-Chennai Industrial Project (VCIP) has generated keen interest among the investors community even as the experts’ panel elicited the opinion of the stakeholders here on the requirement to attract investments.

The team from Asian Development Bank consultative committee, which will prepare the concept paper, is expected to submit its report by October after visiting important places in the State. “They took inputs from us on cargo handled by us and our projections for future,” Visakhapatnam Port Deputy Chairman and CII Vizag zone chairman G.V.L. Satya Kumar told The Hindu on Tuesday.

Experts from PricewaterhouseCoopers (PwC) and John Arnold, Independent Consultant working under the guidance of Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, met Visakhapatnam Port Chairman M.T. Krishna Babu and senior officials from AP State Special Economic Zone, Jawaharlal Nehru Pharma City and AP Industrial Infrastructure Corporation during past two days.

There is also buzz doing the rounds that ADB might support the project becoming a key partner. In tune with the government’s policy, PPP model of investments will be sought in mega infrastructure projects.

“We expect that the proposed industrial corridor and the slew of incentives promised after bifurcation will provide the stimulus for growth in the region,” J.M. Baxi Group Executive Director Capt. Sriram Ravi Chander said.

A senior official of APIIC said it was a familiarisation trip for the experts to understand the level of development achieved so far and the scope for further development on the industrial front in the region.

VCIP, proposed on the lines of Delhi Mumbai Industrial Corridor Project, is envisaged to develop several National Manufacturing Investment Zones, multi-product and product-specific SEZs and clusters in addition to significant improvement in logistic sector by constructing airports, ports and improving road and rail connectivity.
 

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Stating that incentives to be included in the New Industrial Policy would depend on the package promised by the Centre to Andhra Pradesh post-bifurcation, State Industries Commissioner Rajat Kumar on Thursday said Asian Development Bank, the lead agency selected for Visakhapatnam-Chennai Industrial Corridor, would finalise details by October 15.

During an interactive session with CII members on the roadmap for industrialisation of AP, he said the government was in favour of developing a dedicated freight corridor from Visakhapatnam to New Delhi via Bhopal to divert container cargo from the vast hinterland spread over several States to Visakhapatnam.

He said Visakhapatnam port would be transformed into a gateway port and with another deep draft port proposed at Dugarajapatnam in Nellore and Krishnapatnam on expansion-spree AP was all set to become a major hub.

Mr. Rajat Kumar also promised to consider the applicability of Central package to existing MSME industries as sought by Visakhapatnam Autonagar Small-Scale Industrialists Welfare Association president Ramakrishna Narapareddy.

To a suggestion by Visakha Container Terminal COO Sushil Mulchandani, he said the government would take up at political level the suggestions for relaxation of Cabotage law and increase in freight charges under the pretext of route rationalisation policy.

He said the proposed industrial corridor would also connect Tuticorin and Kolkata ports.

Land bank

Admitting that financial resources and availability of land had turned into a major hindrance, he said they had so far identified 8,000 acres in Hindupur (Anantapur), 13,000 acres near Krishnapatnam in Nellore, 18,000 acres in Chittoor and some parcels of land in Atchupuram and Nakkapalli in Visakhapatnam for promotion of industries.

Visakhapatnam Port Deputy Chairman and CII zonal chairman G.V.L. Satya Kumar said as they had the deepest container terminal, the need was to attract more mainline vessels. Earlier, Senior Director from Deolitte Touche Tohmatsu Anindya Mallick gave a presentation on single window. CII AP chairman Suresh Chitturi and Vizag zone vice-chairman Neeraj Sarda were present.
 

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ADB to fund Chennai-Vizag Industrial Corridor

Asian Development Bank of Manila has shown its readiness to back an industrial corridor along the coast of Andhra Pradesh from Chennai to Visakhapatnam, giving a confidence boost to the southern state as it prepares for a new life without Telangana and Hyderabad. If this multilateral agency decides to fund the project directly, it will be its first such initiative in the country.

A truncated Andhra Pradesh without Telangana came into being on June 2 with Chandrababu Naidu as the Chief Minister and Hyderabad as the joint capital for the next 10 years. Naidu has said that the economic development is his topmost priority, and has invited domestic and foreign investors to set up businesses in the state. The Chennai-Visakhapatnam corridor will modernise ports, airports, roads and rail network along the 800-km coastline. It will also create additional gas pipelines and power transmission lines to feed the existing and new industrial clusters and Special Economic Zones in the region. The project will be developed along the lines of the Delhi-Mumbai Industrial Corridor where Japan is a partner. A delegation led by Teresa Kho, Country Director for ADB in India, recently met the state government officials and made a presentation on the proposed project which could cost around र 20,000 crore. -

See more at: http://www.chennairealty.biz/blogs/...-industrial-corridor.php#sthash.cizT2QXy.dpuf
 

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Seems like Vizag-Chennai corridor is going to be the first phase of what is going to be called as East Coast Economic Corridor (Kolkata - Tuticorin)

ADB to assist govt in east coast economic corridor

  • First phase of ECEC will be from Vizag - Chennai, almost covering entire AP coastline
  • Pre-feasibility study on ECEC will be completed by the fourth quarter of this financial year
  • Asian Development Bank (ADB) president, Taakehiko Nakao said ADB is working with the commerce and industry ministry and state governments on the first phase of the ECEC, which is expected to play a key role in boosting trade with East and South East Asia.

http://www.mydigitalfc.com/news/adb-assist-govt-east-coast-economic-corridor-946
 

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HYDERABAD: Giving a big fillip to the economic growth of residuary Andhra Pradesh, Asian Development Bank (ADB) on Tuesday announced that it will pump in a staggering $ 2.5 billion (over Rs 15,000 crore) in the form of financial assistance to develop the Visakhapatnam-Chennai industrial corridor proposed by the NDA government in the Union budget.

ADB country director Hum Kim made the announcement of developing the industrial corridor after meeting AP chief minister N Chandrababu Naidu here on Tuesday. Kim said a special officer would be appointed to monitor the industrial corridor's progress and assured Naidu that the industrial zones proposed in the corridor would be set up within six months.

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 fact, 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 Vizag-Chennai industrial corridor project, ADB joining the venture would hasten the pace of the project implementation, felt AP government officials.
 

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Vizag - Chennai Industrial corridor will boost indian economy massively. Because It has many advantages like 4 major & 5 minor ports, 4 lane and six lane NHW, Freight crdr, upcoming High Speed Crdr, 4 airports, Busiest passenger railway line, interllinking all above etc.

This corridor will be Biggest after DMIC in India
 

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Andhra Pradesh to focus on industrial corridor

* With no special status in the offing, AP has decided to focus on the Visakhapatnam-Chennai Industrial Corridor, to be developed in association with the Asian Development Bank

* ADB has finalised four economic nodes - Visakhapatnam, Kakinada, Machilipatnam and Tirupati-Srikalahasti

* Vizag node will specialise in pharma, metallurgy, non-metallic minerals, chemical and petrochemicals and food processing

* Kakinada node to focus on food processing, chemical and petrochemical, paper and non-metallic minerals

* Machilipatnam to be developed for pharma, metallurgy, food processing and non-metallic minerals

* Tirupati- Srikalahasti to have industries on electrical equipment, textiles, food processing, metallurgy and non-metallic minerals
http://timesofindia.indiatimes.com/city/hyderabad/Andhra-Pradesh-to-focus-on-industrial-corridor/articleshow/46024944.cms
 

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CBN is promising too much without proper financial strength / backing.

AP Govt is almost pauper and unless he revives the traditional income sources, he may not be able to bring in funds for future developments.

Tax incentives alone may not help FDI inflows for the Corridor development.

Infra Development is not like IT facility development.

Many ongoing Infra projects in AP have been stalled due to poor payment from the AP Govt. This may reflect adversely in FDI inflows as Investors expect a robust Infrastructure.
 

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‘ADB could be equity or debt partner for smart cities’

The Asian Development Bank (ADB) has shown interest in partnering with and lending aid to the Government for its 100 smart cities project. ADB has done a feasibility study on the Chennai-Visakhapatnam corridor.

“One of the possible investments could be some cities along the corridor or industrial estate. That is a part of the dialogue yet to happen with the Government. It could be both funding as well as sharing of research and knowledge expertise. If the need is big, ADB could be an equity or a debt partner,” said Bindu N Lohani, Vice-President, Knowledge Management and Sustainable Development, ADB.
http://www.thehindubusinessline.com/economy/adb-could-be-equity-or-debt-partner-for-smart-cities/article6875294.ece
 
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