The Andhra Pradesh Government has sanctioned Rs1,448 crore for the development of Krishnapatnam Industrial Node under Chennai Bengaluru Industrial Corridor.
The Andhra Pradesh Industrial Infrastructure Corp and National Industrial Corridor Development and Implementation Trust 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 development works are spread over an extent of 2,500 acres which will generate around 1 million direct and indirect jobs by 2040 in the state of Andhra Pradesh," said the note.
Food processing, automobile and auto components, textile and wearing apparels, chemical, pharmaceutical and manufacturing of electrical equipment, computer electronics and optical products are expected to come up in the industrial node. These sectors have been identified as enablers of faster development in this region.
Meanwhile, the state government uploaded the project tender document on the judicial preview website for vetting as well as to receive comments and suggestions from the public.
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