ADB in US$ 200 million Indian road loan
25 July 2011
The Asian Development Bank has approved a US$ 200 million loan to support the Indian government's North Eastern State Roads Investment Program.
India's central and state governments will provide a further US$ 98.2 million for a total program investment cost of US$ 298.2 million.
The funds, which will be released in two tranches, will be used to upgrade over 400 km of roads in the states of Assam, Manipur, Meghalaya, Mizoram, Sikkim and Tripura. The improvement work will include widening existing sections of roads, strengthening pavements, raising embankments, and providing permanent structures at river crossings.
The Ministry of Development of North Eastern Region, along with the six state governments, will carry out the program, which is due for completion by the end of December 2016.
India is targeting ambitious road building progress this year - the National Highways Authority of India (NHAI) plans to award construction contracts for 7300 km of roads by April 2012.
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