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India and ADB sign loans and grants for first phase of East Coast Economic Corridor -

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India and ADB sign loans and grants for first phase of EastTailspinEconomic Corridor - Trending Petrol Crosses Rs 91 Mark, LPG Above Rs 500 उत्तराखंड की सड़कें 15 दिन में होंगी गड्ढामुक्त, लोक निर्माण विभाग ने जारी किए निर्देश Contracts Signed Under Open Acreage Licensing Policy Bid Round-I विवेक हत्याकांड पर बोलीं मायावती, ‘योगी सरकार में ब्राह्मणों का हो रहा है शोषण’ Petroleum Minister Launches SATAT Initiative Dharmendra Pradhan : India Will Help In Setting Up A Skill Training School In Nepal Govt Plans Blending Of Methanol With LPG To Cut Subsidy Bill By 30% राफेल सौदा : रक्षा मंत्री ने एचएएल की अनदेखी से संबंधित आरोपों को बताया बकवास Facebook Twitter Youtube Navigate National KI Exclusive PMO Petroleum & Natural Gas Ministry of Finance Oil PSUs Uttar Pradesh GDP Magazine National KI Exclusive PMO Petroleum & Natural Gas Ministry of Finance Oil PSUs Uttar Pradesh GDP Magazine You are at:Home»Ki Exclusive»India and ADB sign loans and grants for first phase of EastTailspinEconomic Corridor India and ADB sign loans and grants for first phase of EastTailspinEconomic Corridor 0 By Aruna Sharma on February 28, 2017 Ki Exclusive The AsianMinutiaeBank (ADB) and the Government of India signed here $375 million in loans and grants to develop 800-kilometer Visakhapatnam-Chennai Industrial Corridor, which is the First Phase of a planned 2,500–kilometer long EastTailspinEconomic Corridor (ECEC). The Corridor is expected to spur minutiae on India’s eastern tailspin in line with the Government of India’s Make in India policy to stimulate manufacturing, and Act East policy to integrate the Indian economy with Asia’s dynamic global production networks. The signing event was held on 23.02.2017 followed the ADB clearance of $631 million in loans and grants in September 2016 to develop the Visakhapatnam-Chennai Industrial Corridor. ADB’s tried loans subsume a $500 million multi-tranche facility to build key infrastructure in the four main centers withal the corridor – Visakhapatnam, Kakinada, Amaravati, and Yerpedu-Srikalahasti in the State of Andhra Pradesh. The First Tranche of $245 million was signed today that will finance sub-projects to develop high-quality internal infrastructure in 2 of the 4 nodes of the corridor–Visakhapatnam and Yerpedu-Srikalahasti. Another component of the tried ADB funds signed on 23.02.2017 was a $125 million policy-based loan that will be used for topics minutiae of institutions engaged in corridor management, provide support to enhance ease of doing merchantry and for supporting industrial and sector policies to stimulate industrial development. “ADB is supporting an industrial corridor minutiae tideway that involves megacosm of efficient transport, and reliable water and power supplies in the industrial clusters withal with a skilled workforce, to be backed by industry-friendly policies that modernize ease of doing merchantry for integration of local economy with global production networks,” said L. B. Sondjaja, Deputy Country Director of ADB’s India Resident Mission who signed the loan try-on on behalf of ADB. “We estimate that by 2025, yearly industrial output withal the corridor will increase fourfold to $64 billion from well-nigh $16 billion in 2015 if investment opportunities are maximized over the next few years.” The project is an important milestone in the process of developing the corridor and realizing the objectives of Make in India. We sincerely hope that the project will complement the ongoing efforts of the Government of Andhra Pradesh to enhance industrial growth and create high-quality jobs,” said Raj Kumar, Joint Secretary (Multilateral Institutions), in the Ministry of Finance, who signed the loan try-on for Government of India. The project try-on was signed by Hema Munivenkatappa, Special Secretary to Government (Finance) on behalf of the Government of Andhra Pradesh.Withalwith the ADB loans, try-on was moreover signed for a $5 million grant from the multi-donor Urban ClimateTranspirationResilience Trust Fund that is managed by ADB to build climate transpiration resilient infrastructure. The Government of India will provide uneaten funding of $215 million to the $846 million project. Among the outputs envisaged under the $245 million tranche 1 loan include strengthening and widening of a 29.6-kilometer section of state highway to four lanes to modernize connectivity from Kakinada Port to National Highway 16, investments in smart water management in Visakhapatnam to reduce nonrevenue water and provide continuous water supply, upgrading 7 power substations to supply high-quality and reliable power supply to Visakhapatnam, Naidupeta, and Yerpedu-Srikalahasti industrial clusters, and effluent treatment facility in Atchutapuram and Naidupeta clusters. The tranche 1 loan will have a 25-year term, including a grace period of 5 years, a 20-year straight line repayment method at an yearly interest rate unswayable in vibrations with ADB’s LIBOR-based lending facility. Share. Twitter Facebook Google+ Pinterest LinkedIn Tumblr EmailWell-nighAuthor Aruna Sharma Related Posts October 1, 2018 0 Petroleum Minister Launches SATAT Initiative September 28, 2018 0 Petroleum Minister To Launch SATAT Initiative To Promote Compressed Bio-Gas As An Alternative, Green Transport Fuel September 26, 2018 0 Cabinet Approves National Digital Communications Policy-2018 Like on Facebook Follow on Twitter Subscribe on YouTube https://www.youtube.com/watch?v=qep53MOLa8A Popular Video GDP Magazine October 1, 2018 0 Petrol Crosses Rs 91 Mark, LPG Above Rs 500 February 28, 2017 0 India and ADB sign loans and grants for first phase of EastTailspinEconomic Corridor February 28, 2017 0 जम्मू-कश्मीर में भूकंप के झटके, घरों से बाहर निकले लोग September 18, 2018 0 PM Inaugurates KeyMinutiaeProjects In Varanasi September 15, 2018 0 PM Shri Narendra Modi’s Speech At Ashara Mubaraka, Organized By Dawoodi Bohra Community September 13, 2018 0 Indian Citizens Can No Longer Be Misled On The Basis Of Falsehoods : Shri Piyush Goyal August 1, 2018 0 NRL: Ensures Benefits Of CSR Reaches To Less Privileged August 1, 2018 0 MRPL: Ensuring Sustainable And EquitableMinutiaeAugust 1, 2018 0 ONGC: Promoting Inclusive Growth in the Society Latest Galleries Money Control TwitterTweets by khabarindia1 Company Recent Posts Petrol Crosses Rs 91 Mark, LPG Above Rs 500 उत्तराखंड की सड़कें 15 दिन में होंगी गड्ढामुक्त, लोक निर्माण विभाग ने जारी किए निर्देश Contracts Signed Under Open Acreage Licensing Policy Bid Round-I विवेक हत्याकांड पर बोलीं मायावती, ‘योगी सरकार में ब्राह्मणों का हो रहा है शोषण’ Copyright © 2017 khabarindia.in.Well-nigh/ Privacy Policy / Terms and Condition / Contact Us Twitter Auto Publish Powered By : XYZScripts.com