New Delhi [India], May 28 (ANI): The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi, on Wednesday approved the construction of 108.134 km long, 4-Lane Badvel-Nellore Corridor. The cost of this project will come around Rs 3653.10 crore.

This project will make easy accessibility to important nodes in the three Industrial Corridors of Andhra Pradesh, i.e., Kopparthy Node on the Vishakhapatnam-Chennai Industrial Corridor (VCIC), Orvakal Node on Hyderabad-Bengaluru Industrial Corridor (HBIC) and Krishnapatnam Node on Chennai-Bengaluru Industrial Corridor (CBIC).

Along with this, this is likely to have a positive impact on the Logistic Performance Index (LPI) of the country.

'Badvel Nellore Corridor starts from Gopavaram Village on the existing National Highway NH-67 in the YSR Kadapa District and terminates at the Krishnapatnam Port Junction on NH-16 (Chennai-Kolkata) in SPSR Nellore District of Andhra Pradesh and will also provide strategic connectivity to the Krishnapatnam Port which has been identified as a priority node under Chennai-Bengaluru Industrial Corridor (CBIC),' Cabinet Committee said in a release.

This project will reduce travel distance to Krishanpatnam port by 33.9 km from 142 km to 108.13 km as compared to the existing Badvel-Nellore road and will reduce time by one hour.

Additionally, this project will generate about 20 lakh man-days of direct employment and 23 lakh man-days of indirect employment.

Along with this, the Cabinet Committee on Economic Affairs also approved two multi-tracking projects across Indian Railways, with the aim of providing seamless and faster transportation of both passengers and goods. This project will cost around Rs 3,399 crore and is expected to be completed by 2029-30.

This railway project aims improve travel convenience, reduce logistic cost, decrease oil imports and contribute to lower CO2 emissions, supporting sustainable and efficient rail operations.,' and 'these improvements are expected to optimize supply chains, thereby facilitating accelerated economic growth. (ANI)