Government of India gave its concurrence for engaging Asian Development Bank (ADB) for carrying out feasibility study and preparing the Conceptual Development Plan (CDP) for East Coast Economic Corridor (ECEC) linking Kolkata in East through Chennai to Tuticorin in South in a phased manner in May, 2014. In the first phase, Vizag-Chennai Industrial Corridor (VCIC) segment of ECEC was taken up. Government of Andhra Pradesh (GoAP) is implementing the project. In September 2016, ADB approved US $631 million (loans and grants) for VCIC. GoAP is to provide Counterpart funding of US $215 million.
This information was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today