AP CM Reviews Rs 9.5 Lakh Crore Visakhapatnam Economic Region Plan
Amaravati, Aug. 5 (TNT): Andhra Pradesh Chief Minister N. Chandrababu Naidu on Wednesday reviewed the proposed development plans for the Visakhapatnam Economic Region (VER), an ambitious initiative aimed at attracting large-scale investments and promoting integrated regional development.
During the review, the Chief Minister said the project is expected to attract investments of around ₹9.50 lakh crore through strategic projects across multiple sectors.
Of the total, government investment is estimated at ₹3.50 lakh crore, while the State aims to mobilise nearly ₹5.50 lakh crore from the private sector.
Naidu directed officials to develop the proposed Base City (BeCity) Project as the anchor project of the Visakhapatnam Economic Region and emphasised that the initiative should be implemented through micro-level planning, covering every area and sector within the region.
He identified artificial intelligence (AI) data centres, port-led industries, tourism, green hydrogen, clean technology and renewable energy as key focus sectors for the region’s development.
The Chief Minister also directed officials to integrate the proposed development corridor from Mulapeta Port to the Rajamahendravaram Akhanda Godavari Project, stating that the Visakhapatnam Economic Region should evolve through seamless connectivity between major infrastructure projects.
Stressing the need for an integrated economic ecosystem, Naidu instructed officials to ensure convergence of funds from various government departments and schemes for implementation of projects.
He also directed that the Viability Gap Funding (VGF) scheme be utilised wherever necessary to facilitate key infrastructure projects.
The review meeting was attended by Chief Secretary K. Sai Prasad and senior officials from the Finance, Industries, Municipal Administration, Forest, Energy and Tourism departments.
TNT KM
