Upgrade of 590-km of state highways in the CKIC influence areas
The Asian Development Bank (ADB) is providing a US$484 million loan to improve transport connectivity and facilitate industrial development in the Chennai–Kanyakumari Industrial Corridor (CKIC) which is a part of India’s East Coast Economic Corridor (ECEC).
ADB is the lead partner of the Government of India in developing ECEC which stretches from West Bengal to Tamil Nadu and connects India to the production networks of South, Southeast and East Asia.
“The project is part of the priority infrastructure projects identified for corridor development under the ADB-supported CKIC comprehensive development plan,” said Takeo Konishi, Country Director for ADB in India, after signing the loan agreement for ADB with the Department of Economic Affairs on 16 June 2021.
“The overall objective is to spur industrial transformation through provisioning of essential transport, energy and urban infrastructure for holistic development of industrial growth centres,” he said.
“The project is key to providing seamless road connectivity across industrial clusters, transport gateways and consumption centers, and help reduce logistics and production costs for CKIC’s targeted industries to boost their competitiveness,” said Department of Economic Affairs’ Additional Secretary Rajat Kumar Mishra, who signed the loan agreement for the Tamil Nadu Industrial Connectivity Project on behalf of the Government of India.
The project will upgrade about 590-km of state highways in the CKIC influence areas that cover 23 of the 32 districts between Chennai and Kanyakumari in Tamil Nadu. Enhanced connectivity of industrial hubs with hinterland and ports will particularly help increase the participation of Indian manufacturing in global production networks and global value chains, thereby creating jobs along the corridor.
In line with Strategy 2030, ADB’s long-term corporate strategy, the project emphasises sustainability, climate change resilience and road safety elements.
Seven-year contracts are provided for long-term maintenance of road projects under the terms of CKIC development.
Climate change adaptation measures will be incorporated in highway upgrades, including improved drainage, raised road embankments in critical sections, and resizing of bridges and culverts.
The project will also strengthen road safety improvement programs through advanced technologies for road monitoring and enforcement.
In addition, the project will help improve the planning capacity of Tamil Nadu’s Highways and Minor Ports Department. #tenders #contracts #projects #investment #banking /fiinews.com
