CDP for four nodes
ADB has approved US$631 million (in loans and grants) for Vizag-Chennai Industrial Corridor (VCIC), comprising a Multi-Tranche Financing Facility (MFF).
Commerce and Industry Minister Piyush Goyal said in a written reply in the parliament on 6 Feb 2020.
The loans and grants are as follows:
Two-tranche MFF of US$500 million to build key infrastructure;
Two-tranche Policy Based Loan (PBL) of US$125 million to support policy reforms and institutional development in the State;
Grant of US$5 million from the multi-donor Urban Climate Change;
Resilience Trust Fund (UCCRTF) to build climate change resilient infrastructure in Visakhapatnam;
Technical assistance of US$1 million to help the Andhra Pradesh local government implement policy reforms:
Since the project is presently under development stage, time for commencement for construction of the project cannot be ascertained.
Also, the ADB had prepared Conceptual Development Plan (CDP) for Vizag-Chennai Industrial Corridor (VCIC) and four nodes namely:
(iii) Donakonda and
(iv) Chittoor were identified for development.
Amongst these nodes, Visakhapatnam and Chittoor have been prioritized by the Government of Andhra Pradesh (GoAP).
Initial master planning of these two nodes were also completed by ADB. As per the proposal of GoAP, National Industrial Corridor Development and Implementation Trust (NICDIT) in its meeting held on 30 August 2019 has accorded its approval for development of Vishakhapatnam and Chittoor as priority nodes in phase-1 of VCIC. fiinews.com