- In this regards, a loan agreement of USD 484 million was signed between GOI and ADB.
- The CKIC project will grant seamless road connectivity across industrial clusters, transport gateways and consumption centres which will prove beneficial to the industrial sector of the state.
- The loan amount will also help to reduce logistics and production costs for CKIC’s targeted industries to boost their competitiveness.
- Under the project, around 590 km of state highways in the CKIC focused areas will be upgraded so that they will connect 23 of the 32 districts between Chennai and Kanyakumari.
- The project will transform the industries by developing essential transport, energy and urban infrastructure of the state.
- It will also lead to creating employment opportunities along the corridor.
- The project will also enhance road safety by using advanced technologies for road monitoring and enforcement.
- Various climate change adaptation measures will be incorporated in highway upgradation like improvement in the drainage, raised road embankments in critical sections, and resizing of bridges and culverts.
- Static Part:
- HQ of ADB: Mandaluyong, Philippines
- President of ADB: Masatsugu Asakawa
- Ports in Tamil Nadu: Chennai Port, V.O.Chidambaranar Port, Ennore Port
Question:
Q.1 Which organisation granted a loan of USD 484 million to GOI to upgrade transport connectivity and have industrial development in the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu?
a. Asian Infrastructure Investment Bank
b. New Development Bank (NDB)
c. World Bank
d. Asian Development Bank (ADB)
a. Asian Infrastructure Investment Bank
b. New Development Bank (NDB)
c. World Bank
d. Asian Development Bank (ADB)
