Visakhapatnam-Chennai Industrial Corridor Development Program (ADB-48434-002)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Andhra Pradesh,Tamil Nadu
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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 20, 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.
Borrower
Government of India
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Industry and Trade
  • Infrastructure
  • Transport
  • Water and Sanitation
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)
$ 505.00 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 4, 2022

Disclosed by Bank Nov 9, 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

The Andhra Pradesh Industrial Development Policy (2015) aims to establish state-of-the art infrastructure, promote manufacturing, enhance inclusivity, foster innovation, and create employment opportunities across sectors. The GoAP has prepared a comprehensive industrial sector road map, strategic context, policy framework and investment plan to enhance industrial growth and create high-quality jobs. With support from ADB, the GoAP has also prepared a conceptual development plan and a regional perspective plan for the VCIC, which include 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 indicates that the VCIC, with its long coastline and strategically located ports, provides multiple international gateways to connect India with vibrant global production networks and to facilitate regional integration. The regional perspective plan has 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 for policy reforms, improving ease of doing business, master planning of the identified industrial nodes, and adopting good practices for management of economic corridors. 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.

MFF Facility Concept: Visakhapatnam-Chennai Industrial Corridor Development Program
Urban Climate Change Resilience Trust Fund under the Urban Financing Partnership Facility US$ 5.00 million

MFF Facility Concept 0093-IND: Visakhapatnam-Chennai Industrial Corridor Development Program
Ordinary capital resources US$ 500.00 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
North H Block, 3rd Floor, AP Secretariat
Hyderabad, 500022

How it works

How it works