Learn bits
Economy
Mahesh

26/05/23 06:32 AM IST

ADB, India sign for industrial corridor development in Andhra Pradesh

In News
  • The Asian Development Bank (ADB) and the Government of India signed, a $141.12 million loan to support the development of high-quality internal infrastructure.
About the project
  • This financing is the second tranche of the $500 million multi-tranche financing facility (MFF) for the program approved by ADB in 2016 to build infrastructure in three industrial clusters in the Visakhapatnam and Srikalahasthi-Chittoor nodes in the state.
  • This financing will help strengthen industrial infrastructure in Visakhapatnam node with the development of internal infrastructure in the start-up area of the 160-hectare (ha) Rambilli and 441-ha Nakkapalli industrial clusters, widening of 13.8-kilometer (km) of the Atchuthapuram–Anakapalli road and improvement of 4.4-km access road to the Nakkapalli cluster.
  • Internal infrastructure in the proposed clusters will include internal roads, storm water drains, water supply systems, and electric power distribution systems.
  • In Srikalahasthi-Chittoor node, the project will help develop the start-up area of the 938-ha Chittoor–South industrial cluster, and improve a 9.5-km access road to the Chittoor-South industrial cluster and an 8.7-km access road to the Naidupeta industrial cluster.
Benefits
  • The project will support the state in rolling out an updated marketing action plan for investment promotion, and enhance skills of people including the socially and economically vulnerable sections.
  • To strengthen industrial cluster resilience under extreme weather, the project will help establish a green corridor model operational guidelines and develop a disaster risk management plan.
  • For long term sustainability, the program will formulate a plan to improve operation and maintenance of start-up industrial clusters, and will roll out a toolkit with gender-responsive and socially inclusive guidance to integrate industrial and urban planning including industry housing in areas adjacent to industrial clusters.
Source- PIB

More Related Current Affairs View All

17 Sep

Reasons Behind the heavy rain in Uttarakhand, Himachal

'Dehradun and several other districts in Uttarakhand have experienced very heavy rainfall over the past few days, triggering landslides in multiple areas and causing rivers to swel

Read More

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps