ADB approves loan for Chennai-Kanyakumari Industrial Corridor

ADB approves loan for Chennai
Question: To strengthen the electricity connectivity between the southern and northern parts of Chennai-Kanyakumari Industrial Corridor (CKIC), what amount of loan has been approved by the ADB?
(a) $ 251 million
(b) $ 151 million
(c) $ 351 million
(d) $ 451 million
Answer: (d)
Related facts:
  • In November 2019, Asian Development Bank (ADB) has approved a $451-million loan to strengthen power connectivity between the southern and northern parts of the Chennai–Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu.
  • ADB’s loan approval for CKIC will further promote economic development in Tamil Nadu by providing more reliable and competitive power supply for industry and services in the future.
  • The total cost of the project is $653.5 million, of which the government will provide $202.5 million. The estimated completion date is at the end of 2024.

Links:

https://www.adb.org/projects/51308-001/main#project-pds

https://www.thehindubusinessline.com/news/adb-clears-451-m-loan-for-power-connectivity-in-chennai-kanyakumari-industrial-corridor/article29881254.ece

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