Project Data Sheet
Project 48434-004
Project Data Sheet
Project 48434-004
| Project Name | Visakhapatnam-Chennai Industrial Corridor Development Program (Tranche 2) | ||||
| Project Number | 48434-004 | ||||
| Country / Economy | India |
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| Project Status | Active | ||||
| Project Type / Modality of Assistance | Loan |
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| Source of Funding / Amount |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability OP4: Making cities more livable OP6: Strengthening governance and institutional capacity OP7: Fostering regional cooperation and integration |
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| Sector / Subsector |
Industry and trade / Industry and trade sector development Transport / Urban roads and traffic management Water and other urban infrastructure and services / Other urban services |
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| Gender | Effective gender mainstreaming | ||||
| Description | The proposed project is the second tranche of the multitranche financing facility (MFF) for Visakhapatnam-Chennai Industrial Corridor Development Program (VCICDP). With the comprehensive support through upstream strategic studies and regular programmatic interventions, tranche 2 will unlock the state's manufacturing potential through fostering industrial agglomeration with holistic infrastructure support, investment promotion, and skills development. The project will also strengthen climate and disaster resilience and integrate industrial and urban planning for more competitive and livable cities. | ||||
| Project Rationale and Linkage to Country/Regional Strategy | The innovative and multisectoral project 2 has potential to drive economic transformation in the state. It addresses operational priorities in ADB's Strategy 2030 by accelerating progress in gender equality; tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; making cities more livable; strengthening governance and institutional capacity; and fostering regional cooperation and integration. In line with the strategic pillars of the ADB country partnership strategy for India, 2018-2022, it boosts economic competitiveness to create more and better jobs and stronger climate resilience. Project 2 is included in India's country operations business plan, 2021-2023. The spine of the VCIC aligns with the Bay of Bengal Highway, which connects Cox's Bazar to Thoothukudi and is a priority corridor identified in South Asia Subregional Economic Cooperation program. | ||||
| Impact | Contribution of the manufacturing sector to the state's gross domestic product, trade, and employment increased. |
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| Project Outcome | |
|---|---|
| Description of Outcome | Industrial investment and employment of the Visakhapatnam-Chennai Industrial Corridor (VCIC) increased. |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Visakhapatnam industrial node infrastructure strengthened Srikalahasti-Chittoor industrial node infrastructure strengthened Sustainable, green, and integrated industrial development enhanced |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Andhra Pradesh |
| Safeguard Categories | |
|---|---|
| Environment | B |
| Involuntary Resettlement | A |
| Indigenous Peoples | B |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Business Opportunities | |
|---|---|
| Consulting Services | All consultant recruitment will adhere to the ADB's Consulting Guidelines (2013, as amended from time to time). |
| Procurement | All procurement of goods and works will adhere to the ADB Procurement Guidelines (2015, as amended from time to time). |
| Responsible ADB Officer | Matsunaga, Akira |
| Responsible ADB Department | Sectors Group |
| Responsible ADB Division | Water and Urban Development Sector Office (SG-WUD) |
| Executing Agencies |
Department of Industries & Commerce, Government of Andhra Pradesh |
| Timetable | |
|---|---|
| Concept Clearance | - |
| Fact Finding | - |
| MRM | 15 Feb 2023 |
| Approval | 24 Apr 2023 |
| Last Review Mission | - |
| Last PDS Update | 27 Apr 2023 |
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 24 Apr 2023 | 23 May 2023 | 21 Jul 2023 | 19 Sep 2026 | - | - |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 214.80 | Cumulative Contract Awards | |||
| ADB | 141.12 | 03 Sep 2023 | 50.54 | 0.00 | 36% |
| Counterpart | 73.68 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 03 Sep 2023 | 0.00 | 0.00 | 0% |