Make in India received a big boost this week with the Cabinet Committee on Economic Affairs approving Industrial Corridor nodes at Krishnapatnam and Tumakuru under Chennai-Bangalore Industrial Corridor and the creation of Multi Modal Logistics Hub & Multi Modal Transport Hub (MMTH) at Greater Noida.
This comes on the heels of Prime Minister Narendra Modi inaugurating a new section of Eastern Dedicated Freight Corridor just two days back.
Under the leadership of Prime Minister Shri Narendra Modi ji, cabinet today has approved Multi Modal Logistics Hub & Multi Modal Transport Hub at Greater Noida and the Industrial Corridor nodes at Krishnapatnam & Tumakuru.
— Nitin Gadkari (@nitin_gadkari) December 30, 2020
What is an Industrial Corridor?
Industrial Corridor is envisioned on the backbone of major transportation corridors like Eastern & Western Dedicated Freight Corridors, Expressways and National Highways, proximity to ports, airports, etc.
The objective of the Industrial Corridor Programme is the creation of greenfield industrial cities with sustainable, ‘plug n play’, infrastructure, and ICT enabled utilities to facilitate manufacturing investments into the country by providing quality, reliable, sustainable and resilient infrastructure to industries.
The developed land parcels in these cities will be ready for immediate allotment for attracting investments into manufacturing and positioning India as a strong player in the Global Value Chain. The Industrial Corridor Programme thrives to attain the objective of creation of an “Atmanirbhar Bharat” to drive the growth of industries and create greater avenues for investments across the country.
Big Boost to Chennai-Bangalore Industrial Corridor
The following 2 components have been approved for development of Chennai-Bangalore Industrial Corridor:
- Krishnapatnam Industrial Area in Andhra Pradesh with an estimated cost of the project of ₹2,139.44 crore;
- Tumakuru Industrial Area in Karnataka with an estimated cost of ₹1,701.81 crore;
The construction of multi-nodal connectivity and trunk infrastructure of these nodes will kick start the development in Chennai Bengaluru Industrial Corridor Project. These greenfield industrial cities will be self-sustaining, with world-class infrastructure, road and rail connectivity for freight movement to and from ports and logistic hubs along with reliable power and quality social infrastructure.
These projects will generate ample employment opportunities through industrialisation. For Krishnapatnam node, estimated employment projection on completion of the first phase of development is likely to be around 98,000 persons of which about 58,000 persons are likely to be employed at the site.
For Tumakuru node, employment of about 88,500 persons is estimated, out of which 17,700 persons will be from service industries such as retail, offices and other commercial opportunities in the initial development phase.
Multi-Modal Logistics and Infrastructure Hub Approved
Development of Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) at Greater Noida in Uttar Pradesh has also been approved. This will be developed at an estimated cost of ₹3,883.80 crore.
Logistics Hub project will be developed as a world-class facility that will provide efficient storage/transitioning of goods to/from the Dedicated Freight Corridors and offer a one-stop destination to freight companies and customers. The facility will not only provide standard container handling activities but also provide various value-added services to reduce logistics cost with improved efficiency of operations.
The project will provide world-class passenger movement facilities for the growing population of the catchment zone catering to upcoming developments in U.P. sub-region of the NCR and thus, decongest Delhi. The employment generation estimated is about 1,00,000 persons by 2040 for both these projects and will have a positive impact on the growth opportunities in the surrounding area.
Both these hubs will be located in close proximity to Eastern peripheral expressway, NH91, Noida- Greater Noida Expressway, Yamuna Expressway, Eastern & Western Dedicated Freight Corridors thereby providing enhanced and multi-Modal interconnectivity.
₹3,000 crore Project for Paradip Port
Giving a further boost to port infrastructure, a ₹3,000 crore project to turn Paradip Port into a world-class port by setting up a dock has been approved by the Cabinet Committee on Economic Affairs.
Paradip Port is a natural, deep-water port on the East coast of India in Jagatsinghpur district of Odisha.
Paradip port in Odisha is one of the twelve major ports of India and handles the cargo of about 115 MT. The development of western dock and port infrastructure at Paradip is expected to attract large vessels with capacity of handling 1.5 tonne cargo to dock here and increase cargo handled substantially to 400 MT by 2030.
In a statement, Ministry of Ports, Shipping and Waterways said that the project will cater to the requirement of coal & limestone imports besides export of granulated slag and finished steel products considering the large number of steel plants established in the hinterland of Paradip Port.
The project will also facilitate de-congestion of the port, reduce sea freight making coal imports cheaper, and boost the industrial economy in the hinterland of the port leading to creation of job opportunities.
From simplified labour laws to highly incentive PLI schemes to now infrastructure boost, Modi government is going all out to make India AatmaNirbhar in infrastructure and manufacturing sectors.