India and Asian Development bank ink $ 375 million for first phase of East Coast Economic Corridor

For the first phase of a planned 2500 kilometer long East Coast Economic Corridor(ECEC) , the Asian Development Bank and Government of India inked $375 million in loans and grants to develop 800 kilometer Vishakhapatnam-Chennai Industrial Corridor. It is expected that this corridor will stimulate development on India's eastern coast in tune with the Government of India's Make in India policy to spur manufacturing and Act East policy to give the sum of Indian economy with Asia's global production structure.

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