[ecis2016.org] The Asian Development Bank has said that it will provide a loan of about Rs 3,200 crores for the Chennai-Kanyakumari Industrial Corridor, to strengthen power connectivity
The Asian Development Bank (ADB), on November 4, 2019, said it will provide a USD 451 million (about Rs 3,200 crores) 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 USD 653.5 million, of which the government will provide USD 202.5 million, the Manila-headquartered multilateral agency said in a release. The estimated completion date is the end of 2024.
You are reading: ADB to give Rs 3,200 crores for Chennai-Kanyakumari Industrial Corridor power links
“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’s principal energy specialist for south Asia, Pradeep Perera. 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, it added.
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ADB has been assisting in developing the CKIC, which covers 23 of the state’s 32 districts and 70% of the state population. According to the release, the project will establish an extra-high voltage 765-kilovolt (kV) transmission link, to transfer the 9,000 MW of extra capacity from Virudhunagar in the southern CKIC northwards to Coimbatore and Chennai. The project includes construction of a 400-kV network to pool power generated at renewable and thermal power plants in Thoothukudi district to Virudhunagar.
Source: https://ecis2016.org/.
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