Economic corridors: ADB approves Rs 3.5k cr loan for TN project
ROADS & HIGHWAYS

Economic corridors: ADB approves Rs 3.5k cr loan for TN project

The Asian Development Bank (ADB) has approved a loan of Rs 3,533 crore for the Chennai-Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.

The funds from the loan approved ADB will be utilised for the development of the CKIC. The industrial corridor project is a part of India's East Coast Economic Corridor (ECEC) that will span between West Bengal and Tamil Nadu. The corridor will connect the country to the production networks of the southeast and east Asia.

The project will upgrade about 590 km of state highways in the CKIC areas. Climate change adaptation measures will be incorporated in the highway upgrades, including improved drainage, raised road embankments in critical sections, and resizing of bridges and culverts, ADB informed the media.

The project aims to increase the participation of the manufacturing industry in production networks and global value chains.

CKIC is envisaged along the coast of Tamil Nadu to leverage the state’s 1,000 km long coastline and operational ports. The CKIC covers an influence area of 23 districts (13 on the coast and 10 in the hinterland) out of 32 districts of Tamil Nadu. The influence area covers about 70% of the state's area and population and contributes 74% to the state's GSDP.

As many as three trunk arterial roads—NH 7, NH-45 and SH-49 (East Coast Road) run through the corridor connecting to the north and south in Tamil Nadu. Through transverse road linkages, these roads form a network that serves as the spine of the corridor.

In terms of other key transport linkages, the corridor is also served by—Chennai-Kanyakumari main railway line, which runs through the corridor, three major ports of Chennai Kamarajar (Ennore) and VoC (Thoothukudi), together with a capacity of 167 mtpa, and the ports of Kattupalli and Karaikal with 51 mtpa capacity, and three international airports—Chennai, Tiruchirappalli, and Madurai and one domestic airport (Thoothukudi).

In 2017, The Asian Development Bank (ADB) and the Government of India signed $375 million in loans and grants to develop the 800-km Visakhapatnam-Chennai Industrial Corridor, the first phase of the planned 2,500-km-long ECEC.

Image Source


Also read: India and ADB sign $375 million in loans and grants for Phase-I of East Coast Economic Corridor

The Asian Development Bank (ADB) has approved a loan of Rs 3,533 crore for the Chennai-Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu. The funds from the loan approved ADB will be utilised for the development of the CKIC. The industrial corridor project is a part of India's East Coast Economic Corridor (ECEC) that will span between West Bengal and Tamil Nadu. The corridor will connect the country to the production networks of the southeast and east Asia. The project will upgrade about 590 km of state highways in the CKIC areas. Climate change adaptation measures will be incorporated in the highway upgrades, including improved drainage, raised road embankments in critical sections, and resizing of bridges and culverts, ADB informed the media. The project aims to increase the participation of the manufacturing industry in production networks and global value chains. CKIC is envisaged along the coast of Tamil Nadu to leverage the state’s 1,000 km long coastline and operational ports. The CKIC covers an influence area of 23 districts (13 on the coast and 10 in the hinterland) out of 32 districts of Tamil Nadu. The influence area covers about 70% of the state's area and population and contributes 74% to the state's GSDP. As many as three trunk arterial roads—NH 7, NH-45 and SH-49 (East Coast Road) run through the corridor connecting to the north and south in Tamil Nadu. Through transverse road linkages, these roads form a network that serves as the spine of the corridor. In terms of other key transport linkages, the corridor is also served by—Chennai-Kanyakumari main railway line, which runs through the corridor, three major ports of Chennai Kamarajar (Ennore) and VoC (Thoothukudi), together with a capacity of 167 mtpa, and the ports of Kattupalli and Karaikal with 51 mtpa capacity, and three international airports—Chennai, Tiruchirappalli, and Madurai and one domestic airport (Thoothukudi). In 2017, The Asian Development Bank (ADB) and the Government of India signed $375 million in loans and grants to develop the 800-km Visakhapatnam-Chennai Industrial Corridor, the first phase of the planned 2,500-km-long ECEC. Image Source Also read: India and ADB sign $375 million in loans and grants for Phase-I of East Coast Economic Corridor

Next Story
Infrastructure Energy

Greaves Electric Mobility Files for IPO

Electric-vehicle manufacturer Greaves Electric Mobility has announced plans to raise Rs 10 billion through an initial public offering (IPO), as stated in its draft papers filed. The company, recognised for its 'Ampere' brand of electric scooters, also produces three-wheelers under a separate brand. Greaves Electric’s major shareholders, Greaves Cotton—a publicly listed entity—and investment firm Abdul Latif Jameel Green Mobility Solutions, will collectively sell approximately 189.4 million shares through the IPO. This move positions Greaves Electric alongside larger competitor Ather En..

Next Story
Infrastructure Energy

IREDA Approves Rs 30 Billion for Odisha's Renewable Energy Projects

Indian Renewable Energy Development Agency (IREDA) has approved funding exceeding Rs 30 billion for renewable energy projects in Odisha as the state strives to achieve its goal of 10 GW capacity by 2030. Pradip Kumar Das, Chairman and Managing Director of IREDA, shared this update during the Odisha Solar Investor Conclave organised by GRIDCO. He emphasised that accessible financing is crucial to fostering the adoption of renewable energy. Das outlined IREDA's significant contributions to funding renewable energy projects in Odisha, spanning sectors such as solar, hydro, ethanol, and renewable..

Next Story
Infrastructure Energy

Oil Prices Rise Amid Light Pre-Christmas Trading

Oil prices edged higher during light trading ahead of the Christmas Day holiday. The increase was attributed to positive US economic data and growing oil demand in India, the third-largest importer of oil globally. Brent crude futures rose by 33 cents, or 0.45 per cent, to reach $72.95 per barrel, while US West Texas Intermediate (WTI) crude futures gained 29 cents, or 0.42 per cent, settling at $69.53 per barrel as of 0114 GMT. Economic indicators in the United States highlighted a surge in new orders for key manufactured capital goods in November, driven by robust demand for machinery. Add..

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