CM Naidu targets Rs 9.5L cr investments in VER

Amaravati: Chief Minister N Chandrababu Naidu on Wednesday directed officials to prepare micro-level development plans for the proposed Visakhapatnam Economic Region (VER), envisaging it as a major investment and industrial corridor capable of attracting Rs 9.5 lakh crore in investments.

Reviewing the VER master plan at his camp office, the Chief Minister instructed officials to prepare a comprehensive strategy covering the region from Mulapeta Port in Srikakulam district to the Akhanda Godavari project in Rajamahendravaram, integrating infrastructure, industries, tourism and urban development.

Officials said the region could attract Rs 5.3 lakh crore in private investment, while government infrastructure projects would require Rs 3.5 lakh crore-Rs 4 lakh crore. They highlighted major projects including the Google AI Data Center and the ArcelorMittal Nippon Steel plant, noting that Visakhapatnam already has a strong IT and data centre ecosystem.

Naidu said 'Vizag Bay City' would serve as the anchor project for VER and directed officials to converge funds from various government schemes, secure additional Central assistance and accelerate infrastructure development across the six Urban Development Authorities. "Prepare micro-level plans for every area, tourism destination and economic sector.

Attract investments, establish experience zones wherever necessary and ensure integrated development across the region," the Chief Minister said. He directed that industries, tourism projects, township ecosystems and employment initiatives be implemented in compliance with Coastal Regulation Zone (CRZ) norms. He also asked officials to explore Public-Private Partnership (PPP) projects and examine Viability Gap Funding (VGF) support.

Emphasising employment generation, Naidu directed officials to upskill local youth and integrate educational institutions, particularly Andhra University, into the development strategy. He also ordered the constitution of a special executive committee to implement the Bay City project. Calling for greater focus on Global Capability Centres (GCCs), fintech and logistics, Naidu said the VER should align with the Centre's East-West connectivity vision.

He directed officials to link four airports and three ports, improve road and rail connectivity between Visakhapatnam, Kakinada and western India, and modernise the Visakhapatnam Zoo as a major tourism attraction.

Chief secretary G Sai Prasad and officials from the finance, industries, municipal administration, forest, energy, tourism, education and medical departments attended the review meeting.

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