ADB to give $451 mn for Chennai-Kanyakumari Industrial Corridor power links
The Asian Development Bank on Monday said it 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 Manila-headquartered multilateral agency said in a release.
The estimated completion date is the end of 2024.
“The ADB project will allow more power, including renewable energy, to be transferred from new generation facilities in the south CKIC to the north, where it is most in demand,” said ADB Principal Energy Specialist for South Asia Pradeep Perera.
