Project News Details

Central Nod for Industrial Clusters in Andhra Pradesh

Central government has approved Andhra Pradesh government’s plan to develop industrial clusters in the state along Visakhapatnam-Chennai Industrial Corridor. The state government will be developing these clusters with help from Asian Development Bank (ADB). The state government will avail loan from ADB for around USD 900 million on Multi-Tranche Financing Facility (MFF). The state government is also planning to take up Visakhapatnam-Chennai Industrial Corridor with investment of USD 1,000 million through MFF loan from ADB. State’s finance department will submit the proposal of availing loan for USD 900 million from ADB to the Department of Economic Affairs (DEA).

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