ADB approves loan for industrial corridor in Tamil Nadu

CHENNAI: In a bid to boost development of the Tamil Nadu industrial corridor, the Asian Development Bank (ADB) has approved a loan of Rs 3,533 crore for the improvement of transport connectivity and road maintenance. The funds will be utilised for the development of the Chennai-Kanyakumari Industrial Corridor or CKIC. This industrial corridor project is part of India’s economic corridor for east coast, that spans from West Bengal to Tamil Nadu. The corridor has been designed to connect the country to the production networks of the southeast and east Asia.

The said industrial project will involve redevelopment of around 590 km of state highways in the areas influenced by the Chennai-Kanyakumari Industrial Corridor. Numerous tasks, including improvement of drainage system, climate change adaptation measures, raising road embankments in critical areas, and resizing of culverts and bridges, will be carried out in the upgradation project of highways.

Chennai-Kanyakumari Industrial Corridor project will also push road safety improvement programs through modern technology. This will be conducted for road monitoring and enforcement. Additionally, the infrastructural project will also support better planning capacity of Tamil Nadu’s Highways and Minor Ports Department. The southern and central areas of Tamil Nadu are away from the industrial or manufacturing hubs around Chennai and they require improved connectivity and inclusive growth. Therefore, one of the most important objectives of the Chennai-Kanyakumari Industrial Corridor project is the redevelopment of these areas.