May 25, 2023: The Asian Development Bank (ADB) and the government today signed, on a $141.12-million loan agreement to support the development of high-quality internal infrastructure such as roads, water supply systems and electricity distribution network in three industrial clusters in Andhra Pradesh.
This financing is the second tranche of the $500-million multi-tranche financing facility (MFF) for the programme approved by the bank in 2016 to build infrastructure in three industrial clusters in Visakhapatnam and Srikalahasthi-Chittoor nodes in the state.
The investment will help Andhra Pradesh in promoting industrialisation to increase the share of manufacturing in the state’s gross domestic product, build competitiveness and creating jobs in the project target areas, the finance ministry said in a statement.
“Specifically, this financing will help strengthen industrial infrastructure in the Visakhapatnam node with the development of internal infrastructure in the start-up area of the 160-hectare (ha) Rambilli and 441-ha Nakkapalli industrial clusters, widening of 13.8-kilometre (km) of the Atchuthapuram–Anakapalli road and improvement of 4.4-km access road to the Nakkapalli cluster,” it said.
Internal infrastructure in the proposed clusters will include internal roads, storm water drains, water supply systems, and electric power distribution systems. In Srikalahasthi-Chittoor node, the project will help develop the start-up area of the 938-ha Chittoor–South industrial cluster, and improve a 9.5-km access road to the Chittoor-South industrial cluster and an 8.7-km access road to the Naidupeta industrial cluster.
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