Recently USD 484 million for the Chennai-Kanyakumari Industrial Corridor in Tamil Nadu sanctioned by Asian Development Bank.
Points To Note
- The Industrial Corridor will upgrade 590 kilometer of state highways in the Chennai-Kanyakumari Industrial Corridor influence areas.
- The Climate Change adaptation measures are to be incorporated in the highway upgrades. This includes improved drainage, resizing of bridges and culverts, raised road embankments in critical sections.
- The Industrial Corridor is to strengthen road safety programmes through advanced technologies for road monitoring.
- It will also improve the planning capacity of Tamil Nadu Highway and Minor Ports Department.
Chennai-Kanyakumari Industrial Corridor
- The Chennai-Kanyakumari Industrial Corridor is a part of East Coast Economic Corridor (ECEC).
- The main objective of this Industrial Corridor is to increase the participation of manufacturing industry in production networks and create jobs along the corridor.
Need for the project
The state has strong economy with several manufacturing industries such as pharmaceuticals, engineering, automobiles, garments, and aerospace. However, central and southern regions of the Tamil Nadu that are far away from the current industrial hubs around Chennai need better connectivity for inclusive growth. This is the main objective of the project.
East Coast Corridor
- The East Coast Economic Corridor stretches from West Bengal to Tamil Nadu.
- It connects India to the production networks of south east and east Asia.
- The complete East Coast Corridor was developed with the help of funds from ADB. It is a multimodal regional maritime corridor that plays a vital role in unifying the domestic market.
- In the year 2016, ADB approved Phase 1 of the East Coast Corridor, which is, Vishakhapatnam-Chennai Industrial Corridor.
- It plays a crucial role in Make in India campaign.
- It supports port-led industrialisation strategy under the Sagar Mala initiative.
- The project also supports Act East Policy of India by linking domestic companies with global production networks in South East and East Asia.
ADB approves $484 million for Chennai-Kanyakumari Industrial Corridor ADB approves $484 million for Chennai-Kanyakumari Industrial Corridor