ADB to Provide USD 484 million for Tamil Nadu Industrial Corridor
Asian Development Bank (ADB) and the Government of India have signed a USD 484 million loan agreement for Chennai-Kanyakumari Industrial Corridor (CKIC) in the state of Tamil Nadu.
The loan is to improve transport connectivity and facilitate industrial development of CKIC. The Chennai-Kanyakumari Industrial Corridor is part of India’s East Coast Economic Corridor (ECEC) which stretches from West Bengal to Tamil Nadu.
The loan shall be utilized to upgrade around 590 km of state highways in the CKIC that cover 23 of 32 districts between Chennai and Kanyakumari in Tamil Nadu.