Krishnapatnam node in CBIC Gets 2140 acre Startup Area

Krishnapatnam node in CBIC Gets 2140 acre Startup Area

Tamil Nadu Industry Review Team

Krishnapatnam node in the Chennai-Bangalore Industrial Corridor (CBIC) is going to get a startup area of around 2140 acres which will be built with a purpose of attracting investments. While the Andhra Pradesh government is looking to transform Krishnapatnam into an industrial hub backed by the seaport there, Tamil Nadu and Karnataka governments will be focusing on Ponneri and Tumkur nodes. The three projects have recently been sanctioned by the Department for Promotion of Industry & Internal Trade.

According to official sources, Krishnapatnam in Nellore district is being developed through a node-level Special Purpose Vehicle (SPV) formed in partnership with the National Industrial Corridor Development & Implementation Trust. The Central and the State governments are together contributing a maximum of 50 per cent equity of up to Rs 3,000 crore in the SPV.   

The total area of Krishnapatnam node is 13,480 acres. The Central Cabinet Committee on Economic Affairs has approved the creation of trunk infrastructure in it at an estimated cost of nearly Rs 2,200 crore. The State government’s focus is on attracting computer and electronics, optical products, automobile, engineering and machinery, pharmaceutical, food processing and textile and apparel units.

An assessment has been made that the Krishnapatnam node has the potential to attract investments amounting to approximately Rs 18,600 crore. The employment potential on completion of the first phase is around 98,000.   

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