Visakhapatnam-Kakinada Petroleum, Chemical and Petrochemical Investment Region will transform Andhra Pradesh into the country’s largest petrochemical corridor, said APIIC Chairman P. Krishnaiah.
The draft master plan is under study by the government. The project envisages an investment of Rs.3.43 lakh crore with several multi-product and product-specific special economic zones, manufacturing zones and industrial parks with heavy investments in strengthening road, rail, air and sea connectivity.
Mr. Krishnaiah told The Hindu that Chief Minister N. Chandrababu Naidu was very keen on implementation of the project as part of which a LNG terminal would be built at Gangavaram Port with an investment of Rs.9,000 crore by Petronet LNG Ltd.
An expressway between Visakhapatnam and Kakinada is proposed. With the formation of Special Development Authority to develop PCPIR in an area of 640 sq. km in Visakhapatnam and East Godavari districts, APIIC has been designated as the nodal agency.
As an anchor tenant, HPCL has sought land near Atchutapuram or Nakkapalli for setting up a greenfield refinery and petrochemical complex with an investment of over Rs.40,000 crore.
Mr. Krishnaiah said IT was taking shape in a big way in and around Visakhapatnam. “It has all potential to be developed on the lines of Silicon Valley in California ,” he said. On land mapping, he said it was a continuous process and the Visakhapatnam district administration had been asked to earmark 2,000 acres exclusively for allotment to IT units with focus on MSME and start-up units. APIIC would create the required infrastructure for the IT zone, he said, adding that IT was not a standalone sector and along with IT units, several service providers would get window opportunities to do business.
