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
Technology

HCL-Foxconn to invest Rs 37 billion in chip plant near Jewar airport

The Union Cabinet has approved the establishment of a new semiconductor unit near Jewar airport in Uttar Pradesh under the India Semiconductor Mission. This sixth plant, a joint venture between HCL and Foxconn, marks further progress in India’s semiconductor journey. The project will see an investment of Rs 37 billion.The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and other digital devices. It is designed for a monthly capacity of 20,000 wafers and an output of 36 million units.Five semiconductor units are already in advanced stages of constructi..

Next Story
Real Estate

Brigade acquires Velachery land for Rs 16-billion project

Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase for Rs 4.417 billion. Located next to Phoenix Market City, the site will be developed into a premium residential project with a gross development value of approximately Rs 16 billion and a development potential of 0.8 million square feet.The project offers strategic access to both the OMR IT Corridor and Chennai’s Central Business District, promising strong connectivity and premium lifestyle offerings. Brigade plans to create signature residences focused on aesthetics, functional..

Next Story
Equipment

Liebherr marks 10,000th XPower wheel loader milestone

Liebherr-Werk Bischofshofen has rolled out its 10,000th XPower wheel loader, marking a major production milestone. The anniversary L 580 XPower model, featuring a power-split travel drive developed with ZF Friedrichshafen AG, was handed over to the BERGER Group in Passau.“The transmission from our partner ZF is a key component of the drivetrain in our XPower wheel loaders,” said Gerhard Pirnbacher, Head of Quality Management at Liebherr. “With an impressive total of around 64 million operating hours already clocked up by XPower models, this transmission has proven its exceptional robustn..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?