State government is contemplating to set up a petro chemical corridor in the coastal area shortly. Minister for major industries J. Geeta Reddy announced this while responding to a query from local MLA Routhu Surya Prakasa Rao during question hour in the State Legislative Assembly. In a statement issued by the legislator here on Wednesday, a coastal petro chemical corridor spread over about 175 km distance, connecting Kakinada and Visakhapatnam at a cost of Rs 60,000 crores, would be coming up. He said that at the initial stage of the project, nearly Rs 18,500 crores were expected to be spent and added that roads, civil aviation, ports and tourism industries would be benefited once the project was commissioned. It would also generate employment for unemployed youth, he added. The ONGC and other oil majors would be the major investors in the project.