ADB, Centre sign loan pact for transport connectivity in T.N.
The Hindu
Highways under Chennai-Kanniyakumari Industrial Corridor will be upgraded
The Asian Development Bank (ADB) has approved a $484 million loan to improve transport connectivity and facilitate industrial development in the Chennai-Kanniyakumari Industrial Corridor. The ADB signed a loan agreement with the Union government on Wednesday to bolster Tamil Nadu’s industrial connectivity by upgrading 590 km of the State highways in the industrial corridor’s influence areas covering 23 of the 32 districts between Chennai and Kanniyakumari. Seven-year contracts are envisaged for the long-term maintenance of these projects. The industrial corridor is part of the East Coast Economic Corridor from West Bengal to Tamil Nadu, being developed with the ADB as the lead partner as the region connects India to the production networks of South, Southeast and East Asia.More Related News