ADB to help Andhra in developing industrial zones

The Asian Development Bank (ADB) will help Andhra Pradesh government in setting up five industrial zones at a cost of $2.5 billion.

ADB's country director Hun Kim Tuesday met Chief Minister N. Chandrababu Naidu here and assured him that the ADB will help the state government establish industrial zones within six months.

Kim has assured the chief minister that they would help the state government attract investors from the US, China, Japan, Korea and European countries.

ADB will appoint a special officer to monitor the project's progress, said an official statement from the state government.

The project includes developing five industrial zones as part of the Visakhapatnam-Chennai Industrial Corridor. These zones would come up in Visakhapatnam, Kakinada, Machilipatnam, Anantapur and Erpedu-Srikalahasti.

As part of this partnership, ADB would also enable companies/investors from these countries to support the government in industrial development, the statement added.