ADB Loan to Spur Growth along Tamil Nadu Industrial Corridor
8 April 2021
The Asian Development Bank (ADB) has approved a $484-million loan for a project to improve transport connectivity along the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu, India, to strengthen industrial growth and create jobs along the corridor. The CKIC is part of India’s East Coast Economic Corridor, which stretches from West Bengal to Tamil Nadu and connects to Southeast Asia and East Asia.
The project will upgrade 590 kilometers of state highways along and around the CKIC. It will incorporate climate change adaptation measures through improved drainage, raised road embankments in key areas, and the widening of bridges and culverts.
It will strengthen road safety through programs on advanced technologies for road monitoring and enforcement. It will also support improved planning capacity of Tamil Nadu’s Highways and Minor Ports Department.
“The project aims to increase the manufacturing industry’s participation in production networks and global value chains, as well as create jobs along the corridor,” according to Mr. Kanzo Nakai, Principal Transport Specialist for South Asia, ADB.
The CKIC helps stimulate growth and inclusive development to the south and central areas of Tamil Nadu by linking these areas with coastal port areas and with industrial hubs around Chennai for automobiles, engineering, pharmaceuticals, garments, and aerospace.
Related Link:
