ADB assigned to prepare development plan for ECEC

ADB has approved Rs.4165 crore for infrastructure development along the VCIC.

The Dollar Business Bureau 

The Government assigned the Asian Development Bank (ADB) to carry a feasibility study and to prepare the Conceptual Development Plan for East Coast Economic Corridor (ECEC) that will link Kolkata in the eastern region of the country through Chennai to Tuticorin in the South. 

“The Government of India gave its concurrence for engaging the ADB for carrying out feasibility study and preparing the Conceptual Development Plan for East Coast Economic Corridor (ECEC) linking Kolkata in the East through Chennai to Tuticorin in South in a phased manner, Commerce and Industry Minister Nirmala Sitharaman said in a written response in Lok Sabha on Monday.

The final study on the Conceptual Development Plan for Visakhapatnam-Chennai Industrial Corridor (VCIC) has been submitted by the ADB. Master plan has started for two nodes, namely Srikalahasti-Yerpedu and Visakhapatnam, she said.

The minister also confirmed that the ADB has also agreed to release Rs.4165 crore ($631 million) in grants and loan for thedevelopment of infrastructure along the VCIC on September 20, 2016.

The government has also received a proposal from Puducherry government for inclusion of the union territory as a node in the ECEC. ADB has given its consent for conducting the feasibility study, she added.

The VCIC, also known as Vizag–Chennai Industrial Corridor, is a vital part of the ECEC and the extent of it is measured from Pydibheemavaram in the district of Srikakulam to Chennai in Tamil Nadu. Therefore, the corridor covers the coast of Andhra Pradesh comprehensively. The industrial corridor covers several infrastructural projects linking manufacturing clusters and gateways like airports and ports to a centre spinal infrastructure of rail, road, and utilities.

 
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