With Asian Development Bank (ADB) committing to loans and grants worth $631 million to the 800 Kilometer Vishakapatnam – Chennai Industrial Corridor (VCIC), APIIC has so far completed land acquisition of 7000 acres needed for the project.
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The Corridor connecting four economic hubs and nine industrial clusters, is billed as the first industrial corridor to be developed along India’s coastline. Aimed at spurring development on India’s eastern coast and creating seamless trade links with South and Southeast Asia.
The corridor touches nine districts of the State, it will have four major nodes at Visakhapatnam, Kakinada, Gannavaram-Kankipadu (near the new capital city of Amaravati) and Yerpadu-Srikalahasti and will be completed by 2020. VCIC will pass through nine districts in AP and connect three major ports and 15 non-major ports while CBIC is planned as a global manufacturing corridor with the focus on pharmaceutical and biotechnology industries, mineral and mineral-based industries, and IT and IT-enabled services sector. It is expected to emerge as a major growth center for the state once it is functional.
