The Andhra Pradesh government has signed a memorandum of understanding (MoU) with Ras AI Khaimah (RAK) Investment Authority of the UAE and Matrix Export Pvt. Ltd for the construction of an integrated port-based industrial corridor in the State. Quoting the Andhra Pradesh Minister for Infrastructure and Ports M Venkata Ramana Rao, Exim News Service reports that the Rs 16,800-crore project is expected to incorporate an industrial complex, port facility, power plant and associated infrastructural facilities on the 26-km stretch between Nizampatnam in Guntur district and Vodarevu in Prakasam district.
According to the Minister, the project, which would come up on about 10,000 acres, would be one of the first few port-based industrial corridors in the country. The port facility, power complex, industrial complex and associated infrastructural facilities would come up on four blocks of 2,500 acres each, he added. To be completed in six years, it would create employment for between 25,000 and 50,000 people, the Minister added.
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