The Andhra Pradesh Government is planning to set up Visakhapatnam-Kakinada industrial development authority to promote new investment in the region and make the area between the two cities into gateway to east.
The AP Industrial Infrastructure Development Corporation (APIIC), the nodal agency for promoting industrialisation, is in the process of preparing a land bank for the proposed nodes at Atchutapuram in Visakhapatnam and Kakinada in East Godavari district.
Sources in the APIIC told The Hindu that the authority would be vested with powers to ensure orderly development and hassle-free clearances for new projects in addition to rolling out a red carpet to investors.
The sources clarified that the authority would be part of the Visakhapatnam-Chennai Industrial Corridor (VCIC) sanctioned by the Union Government for which the Asian Development Bank had pledged $500 million to $600 million for creation of basic infrastructure.
A Dedicated Freight Corridor between Visakhapatnam and New Delhi (Raipur) and a multi-modal transport corridor near Anakapalle are also proposed.
While the dedicated corridor would ensure faster evacuation of cargo, the transport corridor would provide all facilities under one roof for assembling, packing and transportation of white goods and other items.
“The establishment of the authority and AP Maritime Development Board are welcome developments and we expect that these initiatives will spur growth in the region,” said Andhra Chamber of Commerce and Industry Federation vice-president G. Sambasiva Rao.
During the visit of a high-level team from ADB, District Collector N. Yuvaraj informed it of availability of 13,800 acres for allotment to various industries.
The APIIC has also launched an exercise to identify land for acquisition for various new projects.
Under the Visakhapatnam-Kakinada Petroleum, Chemical and Petrochemical Investment Region, an investment of Rs.3.43 lakh crore is expected in 10 years.
In the Infrastructure Mission released recently, the government stated that a double digit growth rate of 12 per cent was needed to achieve a per capita income of $16,500 2029-30.