Visakhapatnam-Chennai Industrial Corridor Development Program - Project 1 (ADB-48434-003)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 26, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 245.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 26, 2020

Disclosed by Bank Sep 29, 2016


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

DESCRIPTION

The Visakhapatnam-Chennai Industrial Corridor Development Program (VCICDP) will complement the ongoing efforts of the Government of Andhra Pradesh (GoAP) to enhance industrial growth and create high quality jobs. The VCICDP comprises a multitranche financing facility (MFF), a grant, and a policy-based loan (PBL). The MFF and the grant will support priority infrastructure investments in the Visakhapatnam- Chennai Industrial Corridor (VCIC), and the PBL will support policy reforms and institutional development in the state.

PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY

To lay the foundation for a long-term investment program, ADB supported the preparation of a conceptual development plan and a regional perspective plan for the VCIC, which included an infrastructure strategy to drive economic growth and the identification of nodes for industrial development, high-potential industrial sectors, and a set of priority projects. The conceptual development plan indicated that the VCIC, with its long coastline and strategically located ports, provides multiple international gateways to connect India with vibrant global production networks. The regional perspective plan identified the VCIC's high potential for generating additional employment and industrial output, which can be achieved from 2015 to 2045. ADB is continuing its support to the GoAP with strategic planning for a long-term, phased investment plan, among others, through master planning of the four identified industrial nodes. The VCICDP will build on the existing concentration of industries and increase the density and flow of economic activities along the VCIC in a business-induced scenario against a business-as-usual scenario. The VCICDP is in line with ADB's country partnership strategy for India.

IMPACT

Contribution of the manufacturing sector to the gross domestic product, trade, and employment of GoAP increased

CONSULTING SERVICES

The project management unit will recruit consultants in accordance with ADB's Guidelines on the Use of Consultants (2013, as amended from time to time). Consulting services include project management and supervision, road safety awareness, and resettlement monitoring.

PROCUREMENT

Procurement of civil works and goods will be carried out in accordance with ADB s Procurement Guidelines (2015, as amended from time to time).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Grant 0495-IND: Visakhapatnam-Chennai Industrial Corridor Development Program - Project 1
Urban Climate Change Resilience Trust Fund under the Urban Financing Partnership Facility US$ 5.00 million

Loan 3430-IND: Visakhapatnam-Chennai Industrial Corridor Development Program - Project 1
Ordinary capital resources US$ 245.00 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

CONTACTS

Responsible ADB Officer Sharma, Manoj
Responsible ADB Department South Asia Department
Responsible ADB Division Urban Development and Water Division, SARD
Executing Agencies
Department of Industries & Commerce, Government of Andhra Pradesh
SECY_INDS@AP.GOV.IN
North H Block, 3rd Floor, AP Secretariat
Hyderabad, 500022

How it works

How it works