ADB gives $141.12 million loan for development of industrial corridor in Andhra Pradesh

Daily Current Affairs / ADB gives $141.12 million loan for development of industrial corridor in Andhra Pradesh

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Category : National Published on: May 29 2023

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ADB financing through adopting a multi-sectoral approach will help the state in promoting industrialization to increase the share of manufacturing in the state's GDP, build competitiveness and generate employment in project target areas.
The funding will help strengthen industrial infrastructure in Visakhapatnam node with the development of internal infrastructure in the start-up area of 160-hectare (ha) Rambili and 441-hectare Nakkapalli industrial clusters, widening of 13.8 kilometres (km) of Achuthapuram-Anakapalli road and improvement of 4.4 km access road to Nakkapalli cluster.