Chennai Kanyakumari industrial corridor is a part of the East Coast economic corridorTamil Nadu Industrial Corridor:The Asian Development Bank (ADB) and the central government signed a $484 million loan in order toimprove the transport connectivity and facilitate the industrial development in ChennaiKanyakumari Industrial Corridor or CKIC in Tamil Nadu.
According to a statement released by the Ministry of Finance on Wednesday, June 16, the roadway infrastructural project stretches from West Bengal to Tamil Nadu and connects the country to the production networks of Southeast, South, as well as East Asia.
(Also Read:Asian Development Bank Approves 3,533 Crore Loan For Tamil Nadu Industrial Corridor)According to the statement, the Asian Development Bank is thelead partner of the central governmentin developing the country's East Coast economic corridor or ECEC.
TheChennaiKanyakumari industrial corridor is a part of the East Coasteconomic corridor.The project will redevelop about590 km of the state highways in the areas impactedby the Chennai-Kanyakumari industrial corridor.
It will boost road connectivity across the industrial clusters, transport gateways, as well as consumption centers.
This will help inreducing the cost oflogistics and production for the corridor's targeted industries.In the redevelopmentproject of the highways, various activities such as climate change adaptation measures, improved drainage system, resizing of culverts and bridges, raised road embankments in the critical areas will be taken up.The influenced areas which are a part of the industrial project cover 23 of the 32 districts between Chennai and Kanyakumari in Tamil Nadu.
Improvedconnectivity of the industrial hubs with hinterland and ports will significantlyhelp in increasing the participation of the country's manufacturing in global production networks, as well as in global value chains.
This is likely to create more jobs along the corridor.The industrial corridor will also conduct road safety improvement programs in the areathrough modern technology, for road monitoring, and enforcement.