ADB to give $451 mn for Chennai-Kanyakumari Industrial Corridor power links

The Asian Development Bank will provide a $451 million (about Rs 3,200 crore) loan to strengthen power connectivity between the southern and northern parts of the Chennai-Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.

The total cost of the project is $653.5 million, of which the government will provide $202.5 million. The estimated completion date is the end of 2024. The project will help promote economic development by delivering a more reliable and competitive power supply for industry and services in the state, which will in turn spur jobs and improve livelihoods.

Static/Current Takeaways Important For RRB NTPC/SSC CGL:

  • Asian Development Bank Headquarters: Manila, Philippines, President: Takehiko Nakao.

Source: The Business Standard

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