India, ADB sign $141.12 million loan agreement for industrial corridor development in Andhra Pradesh

India, ADB sign $141.12 million loan agreement for industrial corridor development in Andhra Pradesh

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India, ADB sign $141.12 million loan agreement for industrial corridor development in Andhra Pradesh

India, ADB sign $141.12 million loan agreement: The Asian Development Bank (ADB) and the Government of India signed a USD 141.12 million loan agreement to support the development of high-quality internal infrastructure such as roads, water supply systems and electricity distribution network in three industrial clusters in the state of Andhra Pradesh.

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India, ADB sign USD 141.12 million loan agreement: Key Highlights 

This financing is the second tranche of the $500 million multi-tranche financing facility (MFF) for the program approved by ADB in 2016 to build infrastructure in three industrial clusters in the Visakhapatnam and Srikalahasti-Chittoor nodes in the Andhra Pradesh state.

India and ADB $141.12 million loan agreement will help strengthen industrial infrastructure in Visakhapatnam node with the development of internal infrastructure in the start-up area of the 160-hectare (ha) Rambilli and 441-ha Nakkapalli industrial clusters, widening of 13.8-kilometer (km) of the Atchutapuram–Anakapalli road and improvement of 4.4-km access road to the Nakkapalli cluster.

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Internal infrastructure in the proposed clusters will include internal roads, storm water drains, water supply systems, and electric power distribution systems. 

In Srikalahasti-Chittoor node, the project will help develop the start-up area of the 938-ha Chittoor–South industrial cluster, and improve a 9.5-km access road to the Chittoor-South industrial cluster and an 8.7-km access road to the Naidupeta industrial cluster.

Static Current Affairs related to Andhra Pradesh for upcoming exams

• Formation of Andhra Pradesh: 1 November 1956
• Capital of Andhra Pradesh: Amaravati
• Largest city of Andhra Pradesh: Visakhapatnam
• No. of Districts in Andhra Pradesh: 26
• Governor of Andhra Pradesh: S. Abdul Nazeer
• Chief Minister of Andhra Pradesh: Y. S. Jagan Mohan Reddy (YSRCP)
• High Court of Andhra Pradesh: Andhra Pradesh High Court
• Population of Andhra Pradesh Census (2011): 49,577,103
• Literacy rate in Andhra Pradesh Census (2011): 67.02% 
• Sex ratio in Andhra Pradesh Census (2011): 993♀/1000 ♂ 
• Official Languages of Andhra Pradesh: Telugu
• Other Additional Languages of Andhra Pradesh: Urdu