The Asian Development Bank (ADB) has approved a $484 million loan to improve transport connectivity and road maintenance in the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu, India.
The CKIC is part of India’s East Coast Economic Corridor, which stretches from West Bengal to Tamil Nadu and connects India to the production networks of Southeast and East Asia.
“The development of the CKIC is part of ADB’s commitment to the government of India to stimulate growth in industrial corridors by linking industrial growth centers and ports hinterland along the coastline and integrating regional value chains,” said Kanzo Nakai, principal transport specialist for South Asia at ADB. “The project aims to increase the manufacturing industry’s participation in production networks and global value chains, as well as create jobs along the corridor.”
Tamil Nadu has a strong state economy with several manufacturing industries, including automobiles, e