OPEC Fund loan to improve connectivity and transportation in India - India Shipping News

The OPEC Fund for International Development is giving a $100 million loan to the Indian government for the Chennai Peripheral Ring Road Project. The loan, in partnership with the Asian Infrastructure Investment Bank and the State of Tamil Nadu, will support the construction of over 50 km of new roads in Chennai. This will ease congestion and commercial traffic to ports, reduce pollution and travel times, and promote economic growth. The OPEC Fund has previously provided over $350 million in public sector financing for various projects in India.

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