ADB, India sign $141M loan for Andhra Pradesh infrastructure
ECONOMY & POLICY

ADB, India sign $141M loan for Andhra Pradesh infrastructure

The Asian Development Bank (ADB) and the Government of India signed a $141.12 million loan agreement, the government said in a statement.

The loan aims to support the development of essential infrastructure, such as roads, water supply systems, and electricity distribution networks, in three industrial clusters located in Andhra Pradesh.

This financing is part of a larger $500 million multi-tranche financing facility (MFF) approved by ADB in 2016 to enhance infrastructure in the Visakhapatnam and Srikalahasthi-Chittoor nodes.

ADB also approved a $250 million loan, as part of the MFF, to support the government’s National Industrial Corridor Development Program (NICDP) in October 2021.

This financing by the bank aims to strengthen industrial infrastructure in the Visakhapatnam node by developing internal infrastructure in the Rambilli and Nakkapalli industrial clusters, improving the Atchuthapuram–Anakapalli road, and enhancing access roads to the Nakkapalli cluster.

The proposed clusters' internal infrastructure will include roads, stormwater drains, water supply systems, and electricity distribution systems. In the Srikalahasthi-Chittoor node, the project will focus on developing the start-up area of the Chittoor-South industrial cluster, as well as improving access roads to the Chittoor-South and Naidupeta industrial clusters.

It will also establish guidelines for a green corridor model to enhance industrial cluster resilience to extreme weather conditions and develop a disaster risk management plan.

To ensure long-term sustainability, the program will formulate plans to improve the operation and maintenance of start-up industrial clusters and provide a toolkit with gender-responsive and socially inclusive guidance for integrating industrial and urban planning, including housing for workers in areas adjacent to industrial clusters.

Also Read
Kolte-Patil Developers reports Rs 120.80 crore profit in Q4 FY23
Chennai: Over 1,000 illegal construction debris dumping spots found

The Asian Development Bank (ADB) and the Government of India signed a $141.12 million loan agreement, the government said in a statement. The loan aims to support the development of essential infrastructure, such as roads, water supply systems, and electricity distribution networks, in three industrial clusters located in Andhra Pradesh. This financing is part of a larger $500 million multi-tranche financing facility (MFF) approved by ADB in 2016 to enhance infrastructure in the Visakhapatnam and Srikalahasthi-Chittoor nodes. ADB also approved a $250 million loan, as part of the MFF, to support the government’s National Industrial Corridor Development Program (NICDP) in October 2021. This financing by the bank aims to strengthen industrial infrastructure in the Visakhapatnam node by developing internal infrastructure in the Rambilli and Nakkapalli industrial clusters, improving the Atchuthapuram–Anakapalli road, and enhancing access roads to the Nakkapalli cluster. The proposed clusters' internal infrastructure will include roads, stormwater drains, water supply systems, and electricity distribution systems. In the Srikalahasthi-Chittoor node, the project will focus on developing the start-up area of the Chittoor-South industrial cluster, as well as improving access roads to the Chittoor-South and Naidupeta industrial clusters. It will also establish guidelines for a green corridor model to enhance industrial cluster resilience to extreme weather conditions and develop a disaster risk management plan. To ensure long-term sustainability, the program will formulate plans to improve the operation and maintenance of start-up industrial clusters and provide a toolkit with gender-responsive and socially inclusive guidance for integrating industrial and urban planning, including housing for workers in areas adjacent to industrial clusters. Also Read Kolte-Patil Developers reports Rs 120.80 crore profit in Q4 FY23 Chennai: Over 1,000 illegal construction debris dumping spots found

Next Story
Infrastructure Urban

Afcons shares gain momentum with Bhopal Metro Line 2 project

Afcons Infrastructure made a quiet debut on the stock market on Monday but quickly gained momentum after emerging as the lowest bidder for the Bhopal metro project line 2 package.The Bhopal Metro Phase 1 project’s 12.915 km Blue Line (Line-2) will link Bhadbhada Chauraha and Ratnagiri Tiraha, spanning 13 elevated stations. This package, issued by the Madhya Pradesh Metro Rail Corporation (MPMRCL), involves constructing all 13 stations of the Blue Line’s viaduct. The depot will also be shared with the Orange Line (Karond Circle to AIIMS) for maintenance and stabling purposes.Afcons’ exten..

Next Story
Infrastructure Transport

Locals urge CM to opt for road bypass over flyover at Dandeavaddo

Chinchinim villagers respectfully requested Pramod Sawant, Chief Minister, to instruct the Public Works Department (PWD) and the National Highway authorities to construct a road bypass instead of a flyover on the Dandeavaddo stretch of NH66. The villagers, led by Sarpanch Frank Viegas and Velim MLA Cruz Silva, also raised the long-standing issue of building the Chinchinim Panchayat Ghar and a multi-purpose project on panchayat land that was acquired more than 15 years ago. The delegation met the Chief Minister at the St. Sebastian Chapel junction in Chinchinim as he was returning home from a..

Next Story
Infrastructure Transport

MLA Yashpal Suvarna Announces Malpe-Udupi Highway Construction from Nov 6

MLA Yashpal Suvarna instructed officials to commence work on the Malpe-Udupi Highway on Wednesday. A meeting took place, attended by MP Kota Shrinivas Poojary, Udupi MLA Yashpal Suvarna, and Kaup MLA Suresh Shetty Gurme, to discuss the National Highway 169A project, which spans from Malpe to Udupi, covering areas like Hiriyadka, Parkala, and Perdur. The project had experienced delays due to incomplete land acquisition, but compensation notices have now been issued to the landowners. Of the 214 land acquisition files, 19 pertain to government land, while 195 involve private owners. Notices ha..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000