Integrated industrial corridors to drive investments in TN.

Asian Development Bank will submit a concept paper on Chennai-Visakhapatnam industrial corridor next month, making this the third major industrial corridor development in Tamil Nadu.

The Chennai-Visakhapatnam industrial development is part of a East Coast Economic Corridor project linking Kolkata, Chennai and Tuticorin, a southern coastal district in Tamil Nadu. A feasibility study will be done by the Asian Development Bank, according to a background paper circulated at a meeting organised here by the Confederation of Indian Industry coinciding with the launch of the Make in India campaign by the Prime Minister Narendra Modi.

S Krishnan, Principal Secretary - Planning and Development, Government of Tamil Nadu, said the corridor based development will give a big boost to the state which has two more such large projects- the Chennai-Bangalore Industrial Corridor being backed by JICA and the Madurai-Tuticorin Industrial Corridor which has been approved by the State Government.

The State Government will be setting up a special purpose vehicle for the Madurai-Tuticorin corridor, he said.

SN Eisenhower, Vice-Chairman, CII Tamil Nadu State Council, while welcoming the objective of the campaign to attract investments in manufacturing sector, clarity and speedy clearance of projects at the State level will be crucial to encouraging industry.


HBL