The Government of India has agreed for engaging the Asian Development Bank for carrying out the plans and also the feasibility study for the development of the East Coast Economic Corridor (ECEC) linking Kolkata in the East through Chennai to Tuticorin in South in a phased manner in May 2014.
The government has adopted various plans for the industrial/economic corridors in association with the State government for the development of states in the industrial area. The Andhra Pradesh Re-Organisation Act of 2014 directs that the Government of India will examine the feasibility of the Visakhapatnam-Chennai Industrial Corridor in a time-bound manner.
Visakhapatnam has been identified as a potential part of the VCIC among Kakinada, Gannavaram Kankipadu and Srikalahasti-Yerpedu. The government hasn’t yet released any funds for the project but the estimated amount for it is $850 million.
The ADB conducted the feasibility study and submitted the final Conceptual Development Plan in December, 2014. The master planning has been started for Visakhapatnam.