In a double bonanza, the AP Industrial Infrastructure Corporation has decided in-principle to allot 400 acres to Visakhapatnam Port Trust for developing a multimodal transportation hub and Indian Institute of Packaging (IIP) 100 acres for India’s first packaging park.
Both the projects will come up side by side between Munagapaka and Anakapalle, about 40 km from here. “We have shown the sites to them and they have shown their willingness to locate the projects,” APIIC Executive Director V. Raghunath told The Hindu .VPT wants to buy the land from the government or offer equity in lieu of the land cost.
“We are very optimistic about the prospects of developing a Bhiwandi-type mega warehousing hub near Vizag. The nitty-gritty of the project is yet to be worked out,” VPT Chairman M.T. Krishna Babu said.
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