The proposed Chennai-Bengaluru Industrial Corrido project would attract an investment of $181 billion and generate employment for 22 million skilled people over the next two decades. Of this, more than Rs.2 lakh crore investments would come into Ponneri in North Chennai, said Japan International Cooperation Agency (JICA) deputy chief representative Ichiguchi Tomohide.
The corridor would at tract investments in automotive, electronics, pharmaceuticals and petrochemical sectors. As Ponneri develops into an industrial city , more than 3.37 lakh people would be employed there, he said. JICA is involved in drawing up plans for the project. Krishnapatnam, a functional port city in Andhra Pradesh, and Tumkur near Bengaluru are the other cities that would develop as the corridor takes shape.
India has already overtaken China and Indonesia in attracting JICA investments, and among the Indian states, Andhra Pradesh, Tamil Nadu and Karnataka topped in JICA investments, said Tomohide. Speaking in a related event on infrastructure development at GIM, Mizuho Bank general manager Jun Kuroki said about 100 Japanese companies were coming into India every year. As regards the development of the proposed Chennai-Bengaluru industrial corridor, 41% of the project cost was being earmarked for land acquisition in Ponneri region, which could affect the project's viability, said Kuroki. About 5075 km distance along the corridor, both before and after Ponneri, would develop once the project took off, said additional chief secretary of industries department C V Sankar.
The corridor would at tract investments in automotive, electronics, pharmaceuticals and petrochemical sectors. As Ponneri develops into an industrial city , more than 3.37 lakh people would be employed there, he said. JICA is involved in drawing up plans for the project. Krishnapatnam, a functional port city in Andhra Pradesh, and Tumkur near Bengaluru are the other cities that would develop as the corridor takes shape.
India has already overtaken China and Indonesia in attracting JICA investments, and among the Indian states, Andhra Pradesh, Tamil Nadu and Karnataka topped in JICA investments, said Tomohide. Speaking in a related event on infrastructure development at GIM, Mizuho Bank general manager Jun Kuroki said about 100 Japanese companies were coming into India every year. As regards the development of the proposed Chennai-Bengaluru industrial corridor, 41% of the project cost was being earmarked for land acquisition in Ponneri region, which could affect the project's viability, said Kuroki. About 5075 km distance along the corridor, both before and after Ponneri, would develop once the project took off, said additional chief secretary of industries department C V Sankar.
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