Finance & Economy | News & Insights

India’s CCEA approves industrial corridor nodes projects.

Published: January 4, 2021
Author: Manali bhanushali

India’s Cabinet Committee on Economic Affairs (CCEA) recently approved proposals by the department of promotion of industry and internal trade (DPIIT) for construction of various trunk infrastructure components for Krishnapatnam industrial area in Andhra Pradesh, Tumakuru industrial area in Karnataka and the multi-modal logistics hub (MMLH) and multi-modal transport hub (MMTH) at Greater Noida in Uttar Pradesh.

The estimated cost for the project in Krishnapatnam industrial area is Rs. 2,139.44 crore and for the one in Tumakuru industrial area is Rs. 1,701.81 crore. For the ones in Greater Noida, the estimated cost is Rs. 3,883.80 crore.

Envisioned on the backbone of major transportation corridors like Eastern & Western Dedicated Freight Corridors, Expressways and National Highways, proximity to ports, airports, etc., the objective of Industrial Corridor Programme is the creation of greenfield industrial cities with sustainable, ‘plug n play’, utilities to facilitate manufacturing investment in the country by providing quality, reliable, sustainable and resilient infrastructure to industries, an official release said.

The developed land parcels in these cities will be ready for immediate allotment for attracting investments into manufacturing and positioning India as a strong player in the global value chain.

These projects will generate ample employment opportunities through industrialisation.

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