Andhra Pradesh Government has sanctioned ₹1,448 crore for the development of Krishnapatnam Industrial Node under Chennai Bengaluru Industrial Corridor.
The Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC) and National Industrial Corridor Development and Implementation Trust (NICDIT) have jointly formed as a special purpose vehicle with equity participation of Central and State Government of Andhra Pradesh to establish, promote and facilitate the development of Krishnapatnam Industrial Node under Chennai Bengaluru Industrial Corridor.
The Krishnapatnam Industrial Node, spread over an extent of 2500 acres, will generate about one million direct & indirect jobs will be generated by 2040 in Andhra Pradesh from the identified industrial sectors like food processing, automobile and auto components, textile and wearing apparels, chemical, pharmaceutical, manufacturing of electrical equipment and manufacturing of computer electronics and optical products that have been identified as enablers for faster development of the region, according to a release. The node is being developed with world class infrastructure.
The tender document is uploaded on the website of Judicial preview for the general public, the release added.
Source: The Hindu Business Line