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Chennai - Visakhapatnam corridor to get ADB loan

Wednesday, 28 May 2014
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Asian Development Bank (ADB) has evinced interest in providing financial assistance to an industrial corridor from Chennai to Visakhapatnam.


For this purpose, the bank has initiated work in studying the feasibility of the industrial corridor. It will also prepare the detailed project repor, which is expected to be submitted by October 2014, and the corridor is likely to be developed as a public-private partnership.


The project will modernise ports, airports, roads, and the rail network along the 800 km coastline. It also envisages additional gas pipelines and power transmission lines to feed fuel to existing and new industrial clusters and Special Economic Zones in the region. It will be executed along the lines of the Delhi-Mumbai Industrial Corridor.


ADB has met the Andhra Pradesh government and made a presentation on the proposed project, which will entail an investment of Rs 20,000 crore for the infrastructure.

 
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