Gadkari commits Rs 20,000 cr for AP
The Andhra Pradesh coast will get a new glitter, with the Union Shipping Minister Mr Nitin Gadkari committing Rs 20,000 crore fresh investment to develop a string of coastal economic zones in the next few years.
Addressing the CII partnership summit, he said the Ministry has committed this investment on the basis of the State Government’s alignment with the Centre’s policy of port-led development.
Mr Gadkari explained that in order to boost overall investments in the economy, one of the major issues that the country has to work upon is to water down the logistics costs. Thereby, the country is focusing on port-led development as transporting goods through waterways is cost effective as compared to rail or road.
Pointing out that the Union government has identified 14 coastal economic zones (CEZs) that will draw a cumulative investment of Rs.8 lakh crore and generate 40 lakh jobs, Mr Gadkari said, “Of these 14 CEZs, two are in AP — Srikakulam to Vijayawada and Vijayawada to Nellore — and together they will draw Rs.20,000 crore.” He added that the ministry has already started working in the areas of providing highway and rail connectivity in these regions and the state government will have to take care of land availability.
This apart, the minister also stated that the central government will kickstart the long-stalled work on the revival of the Buckingham Canal.