ADB to fund $840-m corridor between Vizag, Chennai

The Asian Development Bank will extend a $625 million loan to the proposed $840 million Visakhapatnam-Chennai Industrial Corridor.

• Industrial corridor is meant to boost manufacturing activity and help economic growth of the hinterland, will have four nodes: Visakhapatnam, Kakinada, Gannavaram-Kankipadu and Yerpedu-Srikalahasti.

Housing and Urban Development Corporation would help build Andhra Pradesh’s capital at Amaravati with an assistance of ₹7,500 crore. A metro rail was under consideration for Visakhapatnam, while tenders would be invited for one in Vijayawada.