PM Modi virtually lays stone for KRIS City from Visakhapatnam

Tirupati : Prime Minister Narendra Modi virtually laid foundation stone for KRIS City project from Visakhapatnam on Wednesday, marking a significant milestone in industrial development under Chennai-Bangalore Industrial Corridor (CBIC). The event, attended by Chief Minister N Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan, showcased the government’s commitment to transforming the region into a global industrial hub.

KRIS City is a project spearheaded by Andhra Pradesh Industrial Corridor Infrastructure Development Corporation Limited (APICDC), a joint venture between Government of India and Government of Andhra Pradesh, with equal equity participation. Previously known as NICDIT Krishnapatnam Industrial City Development Ltd (NKICDL), this Special Purpose Vehicle was created to establish and promote Krishnapatnam Industrial Node (KIN) in the State.

Spread over 10,834.5 acres across Chillakur and Kota mandals in Gudur Assembly constituency, the project is being developed in three phases. The activation of Phase 1, covering 2,500 acres, will focus on areas like Thamminapatnam and East Kanupuru in Chillakur mandal and Kothapatnam and Siddavaram villages in Kota mandal. This phase has been approved by the Cabinet Committee on Economic Affairs (CCEA) for a cost of Rs 2,139.43 crore.

Once complete, KRIS City is expected to attract investments of Rs 37,500 crore in industries such as food processing, textiles, electronics, automobiles, engineering and building materials, generating employment for approximately 4,67,500 people, both directly and indirectly. In the Phase 1 activation area alone, projected investments are pegged at Rs 7,500 crore, with an employment potential of 50000 jobs.

The infrastructure for the project includes essential facilities such as road networks, water supply, sewage and effluent treatment plants and dedicated power substations. The EPC contract for Phase 1 infrastructure development, valued at Rs 1,173 crore, has been awarded and the phase is scheduled for completion by February 2027.

Meanwhile, speaking at an event in Visakhapatnam, Prime Minister Narendra Modi emphasised the pivotal role of Sri City in strengthening Andhra Pradesh’s position as a manufacturing hub. He remarked, “With the presence of Sri City, Andhra Pradesh is already reaping the benefits of being a manufacturing hub. Our aim is to elevate AP into one of the top industrial and manufacturing states in the country. To support this vision, our government has introduced schemes like the PLI (Production-Linked Incentive), which have propelled India to the forefront of global manufacturing across various sectors”.