Recently on 25th May 2023, The Asian Development Bank (ADB) and India Government inked a loan deal for USD 141.12 million to support infrastructure development in three industrial clusters located in the state of Andhra Pradesh, India according to the Ministry of Finance, India. The financing represents the second tranche of a muti-tranche financing facility totalling of USD 500 million. In three significant industrial clusters inside the state, the plan intends to improve internal infrastructure, including highways, water supply systems, and energy distribution networks.

The loan, which is a component of the USD 500 million multi-tranche financing facility (MFF) sanctioned by ADB in 2016, would considerably aid Andhra Pradesh's industrialization and economic growth. The construction of top-notch infrastructure in the project's target locations, including Visakhapatnam and Srikalahasthi-Chittoor, would increase manufacturing, strengthen competitiveness, and provide job opportunities across the state.

The funds are used to promote the development of the Rambilli and Nakkapalli industrial clusters' start-up zones as well as the reinforcement of the industrial infrastructure in the Visakhapatnam node. The 160-hectare Rambilli cluster and the 441-hectare Nakkapalli cluster must both establish internal infrastructure. Additionally, the project includes expanding a 13.8-kilometre section of the Atchuthapuram-Anakapalli road and enhancing a 4.4-kilometre access road to the Nakkapalli cluster. Roads, stormwater drainage systems, water supply systems, and electric power distribution systems all be included in the interior infrastructure.

The project intends to develop the 938-hectare Chittoor-South industrial cluster's start-up region in the Srikalahasthi-Chittoor node. Additionally, a 9.5-kilometre access road to the Chittoor-South cluster, as well as an 8.7-kilometre access road to the Naidupeta industrial cluster, involves in the development.

The project's goal includes the implementation of an updated marketing action plan to encourage investments and enhancement of skill development among people, especially those who belong to socially and economically vulnerable groups. The project produces operational guidelines for a green corridor concept and creates a disaster risk management strategy to address the resilience of industrial clusters under severe weather conditions. Additionally, the programme develops a strategy to enhance the management and upkeep of newly established industrial clusters and introduces a toolkit that provides advice on how to incorporate social inclusion and gender responsiveness into industrial and urban planning, including industry housing in areas close to industrial clusters.