Visakhapatnam, also known as Vizag is a port city in the state of Andhra Pradesh. The city is blessed for its natural harbour, attracting a flourishing shipping industry within its borders. In order to further promote the industries, the government has set up special economic zones in the port city, which attracts a lot of business investment, which further inspires CSR investment in Vizag.
In FY 2023-24, Vishakhapatnam was the fourth highest recipient of CSR funds in Andhra Pradesh. The district received Rs 114.04 crore through various CSR initiatives in the given financial year. The top three areas of focus for the CSR programs were: Education, Healthcare and Rural Development with respective spending of Rs 41.14 crore, Rs 29.98 crore, and Rs 24.61 crore.
The top three companies spending on CSR in Vishakhapatnam in FY24 include Laurus Labs Limited, (Rs 13.61 crore), Hindustan Petroleum Corporation Limited (Rs 7.35 crore), Indian Oil Corporation Limited (Rs 5.3 crore).
Top Companies for CSR in Visakhapatnam
CSR of ICICI Bank for cancer care in Visakhapatnam
ICICI Bank, in collaboration with Tata Memorial Centre (TMC), has announced commencement of the construction of a new building at the Homi Bhabha Cancer Hospital and Research Centre (HBCHRC) in Visakhapatnam, Andhra Pradesh. With a commitment of over ₹550 crore, the Bank is funding the construction of a state-of-the-art facility spanning nearly 3.9 lakh square feet, equipped with cutting-edge medical technology.
Once operational, the eight-storied new building– ICICI Foundation Block for Child and Blood Cancer—will serve 3,000 patients annually. Currently, HBCHRC, Visakhapatnam has a capacity of handling 6,200 patients annually.
Designed as one of the largest specialised cancer facilities in Eastern India, the new building will house over 215 beds. It is expected to be completed by 2027, subject to necessary approvals. ICICI Foundation for Inclusive Growth, the CSR arm of ICICI Bank, will oversee its implementation.