ADB will give USD 451 million for energy links of the Chennai-Kanyakumari Industrial Corridor
New Delhi, November 4 () The Asian Development Bank said on Monday that it will provide a loan of USD 451 million (about Rs 3,200 crore) to strengthen electrical 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-based multilateral agency said in a statement.
The estimated date of completion is at the end of 2024.
The ADB project will allow more energy, including renewable energy, to be transferred from the new generation facilities in the south of CKIC to the north, where it is most in demand, said ADB Principal Energy Specialist for South Asia, Pradeep Perera.
The project will help promote economic development by providing a more reliable and competitive energy supply for industry and services in the state, which in turn will stimulate jobs and improve livelihoods, he added.
ADB has been helping in the development of CKIC, which covers 23 of the 32 state districts and 70 percent of the state's population.
According to the statement, the project will establish a 765 kilovolt (kV) transmission link of extra high voltage to transfer the 9,000 MW of additional capacity from Virudhunagar in the south of CKIC north to Coimbatore, an important industrial center, and Chennai. The project includes the construction of a 400 kV network to group the energy generated in renewable and thermal power plants in the Thoothukudi district to Virudhunagar. NKD CS HRS