Hyderabad: The Asian Development Bank (ADB) has agreed to fund for setting up of five industrial zones in the State.

In a meeting with the Chief Minister Nara Chandrababu Naidu on Tuesday, ADB’s country director Hun Kim said that they would help the State Government in establishing industrial zones at a cost of Rs.2.5 billion. It also said that a special officer would be appointed to monitor the project progress.

The five industrial zones that will come up in Visakhapatnam, Kakinada, Machilipatnam, Anatapur and Erpedu-Srikalahasti. ADB director also assured that it would the government in attracting investors from China, Japan, South Korea and European countries.

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Asian Development Bank agrees to fund for 5 Industrial Zones