Tirupati : The Union Budget 2024-25 has set the stage for the rapid development of the Visakhapatnam–Chennai Industrial Corridor (VCIC). The plan to establish industrial parks with an investment of Rs 5,604 crore, to be executed in two phases, received approval from the Asian Development Bank (ADB) in September 2016.
The VCIC, which spans nine coastal districts of Andhra Pradesh, received significant backing from the TDP government during its 2014-19 tenure. Initially, four nodes were proposed, but the focus was narrowed down to two: one in Visakhapatnam (Vizag) and the other in Srikalahasti.
The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) played a pivotal role in identifying these nodes.
At the Srikalahasti node, two project sites were delineated, with 2,770 acre in the south block earmarked for Phase I of the industrial park development.
The VCIC project aims to boost industrial output, create employment opportunities, enhance labour productivity, improve worker skills, and elevate living standards in the region. It is estimated that the corridor will generate employment for approximately 1.4 crore people.
Strategically located near Chennai, the Srikalahasti node benefits from excellent connectivity through roads, rail networks, airports and seaports. There are four seaports within a 120-kilometer radius and two international airports—Tirupati and Chennai—nearby.
APIIC plans to develop the Srikalahasti node in phases, starting with the 2770 acres designated for Phase I.
Reports indicate that 75 per cent of the work in the first phase has been completed, but progress has stalled due to pending bills. The ADB has approved the second phase with an outlay of Rs.2838 crore, initially proposed as 12 packages but later reduced to seven by the previous government. With Union finance minister Nirmala Sitharaman’s proposal to allocate funds for the project’s basic infrastructure, the pace of work is expected to accelerate.
A senior officer noted that the Srikalahasti node has the potential to transform the area into a world-class industrial hub, benefiting nearby cities like Tirupati and Naidupet. The node can be expanded by an additional 10,000 acres in the future, allowing for more projects based on market demand.
The swift completion of the VCIC will further boost the district’s contribution to the state’s GDP, complementing existing developments such as the Electronic Manufacturing Clusters (EMC 1 & 2) and Sri City.
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Comments are closed, but trackbacks and pingbacks are open.