Asian Development Bank approves rupee 3,533 crore loan for Tamil Nadu industrial corridor

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The funds will be used for the Chennai-Kanyakumari industrial corridor in Tamil Nadu (representative image)

As part of a major infrastructural boost for Tamil Nadu’s industrial corridor, the Asian Development Bank has approved a loan worth Rs 3,533 crore for improving transport connectivity and transportation. ‘road maintenance. The funds from the loan approved by the Asian Development Bank will be used for the development of the Chennai-Kanyakumari industrial corridor, or CKIC, in Tamil Nadu. The industrial corridor project is part of the country’s east coast economic corridor, which stretches between West Bengal and Tamil Nadu. The corridor connects the country to the production networks of Southeast and East Asia.

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The industrial project will redevelop approximately 590 km of national roads in areas influenced by the Chennai-Kanyakumari industrial corridor. In the highway modernization project, various tasks such as improvement of drainage system, climate change adaptation measures, raised road embankments in critical areas, as well as resizing of culverts and bridges will be carried out. Tamil Nadu has a robust economy with various manufacturing industries including engineering, automotive, clothing, aerospace, and pharmaceuticals.

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The Chennai-Kanyakumari Industrial Corridor Project will also push road safety improvement programs through modern technology. This will be done for monitoring and law enforcement on the roads. In addition, the infrastructure project will also support the better planning capacity of the Roads and Small Ports Department of Tamil Nadu.

However, one of the most important goals of the Chennai-Kanyakumari Industrial Corridor Project is the redevelopment of the southern and central areas of the state, far from the industrial or manufacturing hubs around Chennai. These areas require improved connectivity and inclusive growth.

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