The institutional and financial structure for various Industrial Corridor Projects in the country including Chennai-Bengaluru Industrial Corridor (CBIC) project was approved by the Union Cabinet  on 7^th December, 2016.  The Government is taking forward the development of CBIC Project in coordination with concerned State Governments. The process relating to detailed master planning and preliminary engineering has been initiated for the Krishnapatnam node identified in the state of Andhra Pradesh.

 The process for selection of consultants for detailed master planning and preliminary engineering for Tumkur node in Karnataka and Ponneri node in Tamil Nadu has been initiated. The activities for formation of SPV for Krishnapatnam node in Andhra Pradesh have also been initiated. SPVs for Tumkur and Ponneri nodes  will be incorporated after the land is made available by the concerned States and execution of Shareholder’s Agreement and State Support Agreement by them.

The Minister of State for Commerce and Industry Shri C.R.Chaudhary gave this information in a written reply to a question in Rajya Sabha today.

 

*******

NP

(Release ID: 1514370) Visitor Counter : 578