Japan assures huge loan to improve highway roads in Northeast India
NEW DELHI: A major boost await the Northeastern surface communication sector. Courtesy Japan. The Japan International Cooperation Agency (JICA) has pledged ODA loan of 96,457 million JPY (Yen) in two tranches for widening and upgradation to 2-Lane with paved shoulder and geometric improvements of the following National Highway (NH) projects.
According to Union Minister of State for road transport & highways, Pon Radhakrishnan, who in his statement informed the Lok Sabha on Thursday that the first project is NH-54 from Km 8.00 to Km 380.00 in Mizoram while the another is the NH-51 Km. 85.00 to 95.00 and Km. 101.00 to 145.00 in Meghalaya.
Interest rates on the loan for construction works & procurement of goods & services are 1.4% per annum and for consulting services is 0.01%. Re-payment of 'principal' will be made in 20 years after the disbursement period of 10 years, he informed the Lok Sabha.
He said the government has taken up various road improvement projects under Special Accelerated Road Development Programme for North East (SARDP-NE) for better connectivity in the entire region.
In order to expedite road construction in the region, the Government has set up the National Highways & Infrastructure Development Corporation Limited to augment the capacity of the agencies involved in the development and maintenance of NH in the Region.