Prime Minister Manmohan Singh on Saturday announced that the port city of Visakhapatnam is a potential location for a mega special economic region, which is likely to attract investments to the tune of $10 billion.
He was speaking at a public meeting in Indira Priyadarshini Municipal Stadium in Visakhaptnam after launching the Rs 98-crore (Rs 980 million) water supply and drainage project for Visakhapatnam under the Jawaharlal Nehru National
Urban Renewal Mission.
"Vizag is one of the potential locations for a mega special economic region being promoted by the central government and which is currently under discussion
with important foreign investors.
"We will support the efforts of the state government in developing Vizag as a mega special economic region," he said and added that this project would translate into thousands of new jobs and spur the prosperity of the people of the region.
The prime minister, who earlier laid the foundation stone for the Rs 8,692-crore (Rs 86.92 billion) expansion project of Visakhapatnam Steel Plant, said that, "prospects for
the industrial growth are extremely bright in Vizag. The steel plant is growing rapidly. We will work rapidly for the revival of Hindustan Shipyard as well as Bharat Heavy Plates and Vessels."
HSL, a public sector undertaking, was originally set up by Hirachand Walchand group. This largest shipyard on the eastern coast is passing through difficult times though currently it has orders worth Rs 2,000 crore (Rs 20 billion).
"Proposals are revival of HSL are under active consideration of the Government of India to make it a world-class ship-building yard. Similarly, proposals for the revival of BHPV will be finalized very soon," he pointed out.
Stating that Vizag offered excellent potential for the development of petrochemical sector, he explained that Hindustan Petroleum Corporation Limited, which has one of the oldest refineries in this region, is planning major investments of Rs 10,000 crore (Rs 100 billion) in expanding its refinery and setting up a petrochemicals complex.
Noting that Vizag was very quick in taking advantage of Jawaharlal Nehru National Urban Renewal Mission, he said that the Union government has already sanctioned Rs 100-crore (Rs 1 billion) for water supply and drainage project for Vizag. Another project for improving the road network in the port city is also being sanctioned.
"Vizag must become a great port city, a great industrial city and a great knowledge city. You have all the resources to modernize Vizag into one of the greatest cities in the world. From here to Kakinada and to Srikakulam, for 200 miles (320 kms), the entire area can be developed as a center of new thriving business and industry. Vizag must become the jewel of the Coromandel coast," he said.
The prime minister said that project proposals have been submitted by the state government for developing a coastal corridor from Vizag to Bheemli and a tunnel under nearby hills to connect newly developing areas.
"We will certainly support these proposals and consider them favourably under JNNURM," he assured.
"We are also committed to improving the airport at Vizag. We sanctioned a new terminal building at a cost of Rs 90 crore (Rs 900 million) which would be ready by the end of next year.
"I have noted the request to make Vizag an international airport. This request will be examined with all seriousness and we will consider it in due course. We will also favourably consider any proposal for a Mass Rapid Transit System for Vizag," headded.
