ADB to work with AP to set up industrial zones

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  N Chandrababu Naidu at the Secretariat on Tuesday, 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.

 Mr 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.