Tamil Nadu to get $451 million ADB loan to boost power connectivity

By: |
Published: November 6, 2019 5:52:13 AM

Asian Development Bank (ADB) has recently 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.

Tamil Nadu, ADB loan, power connectivity, CKIC, Tamil Nadu, Tamil Nadu government, power infrastructure, South Asiahe state has identified quality infrastructure, including a reliable power supply as a key prerequisite for further economic development.

Tamil Nadu is getting a sum of $451-million as a loan from Asian Development Bank (ADB) to beef up the power infrastructure in the state. Asian Development Bank (ADB) has recently 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.

“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. This 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,” Pradeep Perera, ADB principal energy specialist for South Asia, said. The state has identified quality infrastructure, including a reliable power supply as a key prerequisite for further economic development. As a key component, ADB has been assisting in developing CKIC, which covers 23 of the state’s 32 districts and 70% of its population.

The Tamil Nadu government is aiming to develop the northern Chennai–Tiruchirappalli area of CKIC as a manufacturing centre while targeting the relatively poor southern Madurai–Thoothukudi portion for the development of renewable energy-based power generation because of the availability of wind and solar resources.

Do you know What is Revenue Deficit, Centrally Sponsored Scheme, Non Tax Revenue, Non Debt Capital Receipts, Consolidated Fund of India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1Govt to facilitate onion imports from Iran, Egypt, Turkey; to relax fumigation norms
2India to see 10% salary increase in 2020: Report
3India attends China’s biggest import expo as ‘Guest of Honour Country’