New Delhi [India], December 30 (ANI): The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved industrial corridor nodes at Andhra Pradesh's Krishnapatnam and Karnataka's Tumakuru under Chennai-Bengaluru Industrial Corridor (CBIC) and Multi Modal Logistics Hub and Multi Modal Transport Hub (MMTH) at Greater Noida.
The construction of Krishnapatnam Industrial Area in Andhra Pradesh has got the Cabinet's approval with an estimated cost of the project of Rs 2,139.44 crores and Tumakuru Industrial Area in Karnataka with an estimated cost of Rs 1,701.81 crores.
The estimated cost of Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) at Greater Noida is Rs 3,883.80 crores.
"Krishnapatnam Industrial Area in Andhra Pradesh and Tumakuru Industrial Area in Karnataka under Chennai Bengaluru Industrial Corridor (CBIC) have been approved to kick start the development in Chennai Bengaluru Industrial Corridor Project. These greenfield industrial cities will be self-sustained 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," read the release by the Ministry of Commerce and Industry.
The Ministry said that 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.
The Ministry said that Multi Modal Logistics Hub and Multi Modal Transport Hub (MMTH) Projects at Greater Noida is estimated to generate employment for about 1,00,000 persons by 2040. (ANI)