Third industrial corridor development to happen in Tamil Nadu
The Asian Development Bank stated that it will be submitting a concept paper on Chennai-Visakhapatnam industrial corridor next month, by making this the third major industrial corridor development that will be happening in the state of Tamil Nadu.
The Chennai-Visakhapatnam industrial development is part of an East Coast Economic Corridor project linking Kolkata, Chennai and Tuticorin, which is a southern coastal district in Tamil Nadu. S Krishnan, Principal Secretary – Planning and Development, Government of Tamil Nadu, said that the corridor based development will give a big increase 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. The building of this corridor will help in regulating more revenues and also benefit in industrial dealing. It is being expected that the work based on these corridors will be starting soon so as to ensure fast development.
Source: The Hindu Business Line
Asian Development Bank, Chennai-Bangalore Industrial Corridor, Chennai-Visakhapatnam industrial development, Madurai Tuticorin industrial corridor, Tamil Nadu
