Giving a boost to Andhra Pradesh’s industrial development, Asian Development Bank (ADB) has said that it will set up industrial zones in the state within six months.
In a meeting with Chief Minister Nara Chandrababu Naidu at his Secretariat Office today, ADB’s country director Hun Kim said they would help the state government establish industrial zones in the state with a cost of $2.5 billion. ADB has assured that a special officer would be appointed to monitor the project’s progress.
The project includes developing five industrial zones as part of the Visakhapatnam-Chennai Industrial Corridor. These zones would come up in Visakhapatnam, Kakinada, Machilipatnam, Anantapur and Erpedu-Srikalahasti.
Kim has assured the Chief Minister that they would help the state government attract investors from China, Japan, South Korea and European countries.
As part of this partnership, ADB would also enable companies/investors from these countries to support the government in industrial development.
Dr Parakala Prabhakar, advisor (communications) to government of AP, AP Skill Development Corporation CEO Ganta Subbarao and principal secretaries Giridhar and Sai Prasad were present at the meeting. (INN)