ADB Bank to provide a USD 484 million loan to improve transport connectivity

The Asian Development Bank (ADB) announced to provide a USD 484 million loan to improve transport connectivity and facilitate industrial development in the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.

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The CKIC is part of India’s East Coast Economic Corridor (ECEC), which stretches from West Bengal to Tamil Nadu and connects India to the production networks of South, Southeast, and East Asia. ADB is the lead partner of the Indian government in developing ECEC.

The funding will be used for a project to upgrade about 590 kilometers of state highways in the CKIC influence areas, covering 23 of the 32 districts between Chennai and Kanyakumari in Tamil Nadu.

Seven-year contracts are provided for long-term maintenance of road projects. Climate change adaptation measures will be incorporated in highway upgrades.