Krishnapatnam Port expects to finish its land acquisition for the Rs 11,000 crore smart city cum industrial area planned with the government, in the next six months.
The company has already acquired 5,000 acre and will acquire 1,000 more. The Andhra Pradesh Government will provide an additional 8,000 acre. The Japan Industrial Co-operation Agency will help in raising funds. The project was among the ones announced in the 2014-15 Union Budget. This is expected to bring in major development in the Vizag-Chennai industrial corridor.