Piyush Goyal, Union Minister for Commerce and Industry informed about the completion of the DPR [Detailed Project Report] for the Chennai-Bangalore Industrial Corridor also known as CBIC is completed.
The proposed plan is designed to have three nodes that include Krishnapatnam in Andhra Pradesh, Ponneri in Tamil Nadu, and Tumakuru in Karnataka. All these places will be developed for the corridor to connect Chennai and Bengaluru, the two major cities of Southern India.
The officials informed that JICA i.e. the Japan International Cooperation Agency drafted the proposed plan for the industrial corridor and also framed the initial master plan to figure out the locations. According to the reports, this project is in the development phase and the completion date of the corridor is yet to be finalized.
SPV i.e. the Special Purpose Vehicles for Krishnapatnam and Tumakuru nodes have well in place. Apart from this, the comprehensive master plan and preliminary engineering activities are also underway for these two nodes. Till now Rs. 9.85 crore is estimated to be incurred on the development of this corridor, however, final costing of the project is yet to be done.
The Union Government has also directed the State governments to acquire land for the project and the same work has been carried out for the corridor development as the Governments have started the land acquisition process with Krishnapatnam in Andhra Pradesh – 14,000 acres, Ponneri, Tamil Nadu – 21,966 acres, Tumakuru, Karnataka – 9,630 acres.