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.
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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.
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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.