₹5,000 Crore Development Plan Set for Visakhapatnam Economic Region Over 3 Years
District Collector M. Abhishikth Kishore has said that development works worth ₹5,000 crore will be taken up in the Visakhapatnam Economic Region over the next three years.
Speaking to the media at the Collectorate Video Conference Hall on Tuesday after the “Fishermen Welfare” programme, he said that Visakhapatnam is among four cities in the country selected by the Government of India under the City Economic Region initiative.
He said that 49 projects have been identified as per NITI Aayog recommendations, along with additional proposals based on local requirements. He added that the upcoming Bhogapuram Airport is expected to boost growth prospects in the region, particularly in areas such as Rushikonda and Yendada.
The Collector said that the initiatives are aimed at ensuring the comprehensive development of Visakhapatnam in line with public aspirations.
He further said that two disaster management projects are likely to be sanctioned, including ₹200 crore for the Greater Visakhapatnam Municipal Corporation (GVMC) and ₹100 crore for the Visakhapatnam Metropolitan Region Development Authority (VMRDA). He added that the Detailed Project Reports (DPRs) have already been forwarded to the Centre through the State government.
He also noted that several retaining walls along the coastal stretch have been damaged and will be reconstructed, along with protective structures up to Rushikonda wherever required.
Responding to queries, he said that ₹1,500 crore has been sanctioned under the Urban Challenge Fund for three GVMC projects.