Quick Summary
The Asian Development Bank (ADB) and the Government of India here today signed a $484 million loan to improve transport connectivity and facilitate industrial development in the ChennaiKanyakumari Industrial Corridor (CKIC) in the state of Tamil Nadu. CKIC is part of Indias East Coast Economi
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FAQ :
The loan agreement is for $484 million.
The loan is specifically for upgrading the road network in the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.
Approximately 590 km of state highways in the CKIC influence areas will be upgraded.
The project aims to improve transport connectivity, facilitate industrial development, reduce logistics and production costs, and boost the competitiveness of targeted industries.
The project emphasizes sustainability, climate change resilience (including improved drainage and raised embankments), and road safety elements, with seven-year contracts for long-term maintenance.
Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, signed for the Government of India, and Takeo Konishi, Country Director for ADB in India, signed for ADB.
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