A loan facility is financing Indian road development works.
New road works are planned for India – image courtesy of © Raja Rc, Dreamstime.com
A loan facility is now helping provide the necessary financing for highway works in Southern India. The US$484 million loan is being provided by the Asian Development Bank (ADB).
The financing will help to improve transport in the Chennai-Kanniyakumari Industrial Corridor in India's Tamil Nadu State. In all 590km of roads will be improved in the area. Industrial development of the area will also benefit from the funding.
Bridges and drainage facilities will be improved while some road sections will be rebuilt on raised embankments. This will help the road infrastructure to better cope with climate change factors in this area of India, particularly in lower lying coastal areas. Maintenance works will also be carried out.
