Asian Development Bank support will boost investment: Bank’s V-P

Tirupati: As a part of his two-day visit to Andhra Pradesh, the Vice-President of the Asian Development Bank (ADB) Dr Wencai Zhang accompanied by a team of senior officials of the bank visited Sri City on Friday.

The founder and MD of the Sri City Ravindra Sannareddy briefed them on the infrastructure and the unique features of the industrial park and said that Sri City is an example of a world-class urban development attracting foreign investment in manufacturing. Impressed with the infrastructure facilities in Sri City, Zhang said, “I hope ADB’s support to Visakhapatnam-Chennai Industrial Corridor (VCIC) will help further the investment climate in this region”.

He had an interactive meeting with the senior managers of some of the industrial units of Sri City like Foxconn, ZTT, Piolax and Lerri Solar. While expressing satisfaction on the Sri City facilities, some of them mentioned that the roads that are used for commuting to Sri City are in very bad shape. Responding on this, Zhang mentioned that under the scope of VCIC, a comprehensive governance framework that supports the management and planning of the corridor’s zones and clusters, will improve the infrastructure in the region. 

The entourage of Wencai Zhang included ADB Country Director Kenichi Yokoyama, Senior Advisor to the Vice-President Chen Chen, Economist Kavita Iyengar, ADB Senior External Relations Officer Rajesh Kumar Deol,  DIC General Manager Anil Kumar Reddy and Nodal Officer of Industries department Madhusudhan coordinated the visit on behalf of the AP government.