Cabinet approves Industrial Areas and Logistics Hub
The Union Cabinet chaired by Prime Minister Narendra Modi recently approved Industrial Areas and Logistics Hub.
What are the projects approved?
The projects approved by the Cabinet are as follows:
- Construction of various trunk infrastructure components for Krishnapatnam Industrial Area in Andhra Pradesh
- Tumakuru Industrial Area in Karnataka
- Multi-modal Logistics Hub and Multi-modal transport hub at Greater Noida
What are the benefits of Krishnapatnam Industrial Area in Andhra Pradesh?
The Krishnapatnam Industrial Area in Andhra Pradesh will generate employment opportunities through industrialisation. It is to provide employment to 98,000 persons in phase I. Of this, it is likely to generate 58,000 persons of direct employment.
What is Direct Employment?
It is a situation where the organization employs operatives directly rather than relying on self-employed operatives or sub contractors. The estimated cost of the Krishnapatnam Industrial Area in Andhra Pradesh is Rs 2,139.44 crores.
What are the benefits of Tumakuru Industrial Area in Karnataka?
Tumakuru Industrial Area in Karnataka is to generate employment for 88,500 persons. Of these, 17,700 persons are to be from retail, service sector and other commercial opportunities. The estimated cost of Tumakuru Industrial Area in Karnataka is Rs 1,701.81 crores.
What are the benefits of Multi-modal Logistics Hub and Multi-modal transport hub at Greater Noida?
Both the projects are to generate one lakh employment opportunities by 2040. It is to be developed as a world class facility. It will provide efficient storage and transitioning of goods from dedicated freight corridors. It will act one-stop solution to freight companies and customers. Apart from container handling services, the industrial area will provide value-added services to reduce logistics cost.
The Indian Railway station located near Boraki station is to act as a transport hub. It is to provide a world class passenger movement system. The estimated cost of Multi-modal Logistics Hub and Multi-modal transport hub at Greater Noida is Rs 3,883.8 crores
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Month: Current Affairs - December, 2020