The Cabinet Committee on Economic Affairs (CCEA) has approved to construct Industrial Corridor nodes in Krishnapatnam and Tumakuru at estimated cost of ₹7,725 cr.
The committee, chaired by Prime Minister Narendra Modi, has approved three proposals from the Department of Promotion of Industry & Internal Trade (DPIIT). These include the Krishnapatnam Industrial Area in Andhra Pradesh with an estimated cost of Rs. 2,139.44 crore for the project.
The second is the construction of Tumakuru Industrial Area in Karnataka with an estimated cost of Rs. 1,701.81 crore. The third project is the Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) at Greater Noida, Uttar Pradesh with an estimated cost of Rs. 3,883.80 crore
“The objective of Industrial Corridor Programme is the creation of greenfield industrial cities with sustainable, ‘plug n play’, ICT enabled utilities to facilitate the manufacturing investments into the country by providing quality, reliable, sustainable and resilient infrastructure to industries,” the CCEA said in a press release.
These developed nodes will be immediately allotted in order to attract investments into manufacturing and positioning India as a strong player in the Global Value Chain, the Committee said.
Through industrialisation, these projects are said to generate employment opportunities for more than 2.8 lakh persons. “The Industrial Corridor Programme thrives to attain the objective of creation of an ‘Atmanirbhar Bharat’ to drive the growth of industries and create greater avenues for investments across the country,” the statement read.
For the project in Krishnapatnam, around 98,000 persons are estimated to be employed in the first phase. For the Tumakuru project, 88,5000 persons are estimated to be employed out of which 17,700 persons will be from service industries such as retail, offices and other commercial opportunities in the initial development phase.
Both the projects in Krishnapatnam and Tumakuru have been approved to start the development in Chennai Bengaluru Industrial Corridor Project (CBIC). “These greenfield industrial cities will be self-sustained with world-class infrastructure, road and rail connectivity for freight movement to and from ports and logistic hubs along with reliable power and quality social infrastructure,” the statement read.
The MMLH and MMTH projects approved in Greater Noida are in close proximity to Eastern peripheral expressway, NH91, Noida- Greater Noida Expressway, Yamuna Expressway, Eastern & Western Dedicated Freight Corridors.
“Logistics Hub project will be developed as a world-class facility that will provide efficient storage/transitioning of goods to/from the Dedicated Freight Corridors (DFC) and offer a one-stop destination to freight companies and customers,” CCEA said. The facility will not only provide standard container handling activities but also provide various value-added services to reduce logistics cost with improved efficiency of operations, it added.
The MMTH will act as a transport hub with Rail, Road and MRTS accessibility for the passengers. Located near the Boraki Railway Station, will have space for Inter State Bus Terminal (ISBT), Local Bus Terminal (LBT), Metro, commercial, retail & hotel space and green open spaces.
“The project will provide world-class passenger movement facilities for the growing population of the catchment zone catering to upcoming developments in UP sub-region of the NCR and thus, decongest Delhi,” the Committee said.
These projects are expected to generate employment for about 1,00,000 persons by 2040. They are said to have a positive impact on the growth opportunities in the surrounding area.
Source: mint
