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

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.
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