The production of Portland cement, the principal binder in concrete, is a major contributor for 6-8% of human generated green house gases that are involved in global warming and climate change. But when flyash, which is the residue from coal-fired power plants is used as partial replacement of cement in concrete, results in the reduction of environmental load and concrete production cost besides enhancing strength and protection of embedded steel in concrete from corrosive agents. This paper investigates the influence of 30% replacement of cement by flyash on the strength and corrosion resistive properties of concrete along with Triethanolamine as corrosion inhibiting admixture at the dosage of 1%, 2%, 3% and 4% by weight of cement. The specimens were tested for compressive strength, split tensile strength, flexural strength and bond strength. The resistance to corrosion is evaluated based on the performance of the concrete for the penetration of chloride ions by means of impressed current technique, half cell potential measurement and weight loss method. From the results obtained, it is found that flyash blended cement concrete increases the strength, reduces the permeability by the pozzolonic reaction, offers very good resistance against chemical attack and increases corrosion resistance with the addition of inhibitors.