1496051842_RcTymj_ADB-reu.jpg
The project aims to increase the manufacturing industry's participation in production networks and global value chains, as well as create jobs along the corridor.
Photo Credit : Reuters
The Asian Development Bank (ADB) on Thursday said it has approved a USD 484-million loan to improve transport connectivity and road maintenance in the Chennai-Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.
The CKIC is part of India's East Coast Economic Corridor, which stretches from West Bengal to Tamil Nadu and connects India to the production networks of Southeast and East Asia.
The project will upgrade about 590 km of state highways in the CKIC influence 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 said in a statement.
The project will strengthen road safety improvement programmes through advanced technologies for road monitoring and enforcement. In addition, the project will support improved planning capacity of Tamil Nadu's highways and minor ports department.
The development of the CKIC is part of ADB's commitment to the Government of India to stimulate growth in industrial corridors by linking industrial growth centres and ports hinterland along the coastline and integrating regional value chains, said ADB Principal Transport Specialist for South Asia Kanzo Nakai.
The project aims to increase the manufacturing industry's participation in production networks and global value chains, as well as create jobs along the corridor.
Established in 1966, ADB is owned by 68 members — 49 from the region.
(PTI)