China lends USD 329 mn for Gujarat Rural Roads Project
Published: Aug 04, 2017
By TIOLCORPLAW News Service
NEW DELHI, AUG 04, 2017: China-led Asian Infrastructure Investment Bank (AIIB) lending of US$ 329 million for Gujarat Rural Roads Project have been signed the Loan and Project Agreement with the Government of India or Government of Gujarat today at New Delhi.
The objective of the project is to improve the rural road connectivity and accessibility (by providing all weather road connectivity) to 1,060 villages in all the 33 districts in Gujarat state benefiting about 8 million people. The project will also benefit the service providers such as public transport operators, educational institutions, hospitals, local markets and traders.
The project consists of following two main components one-the constructions and up-gradation of Non-Plan Roads (NPRs) and other is the up-gradation of Planned Roads.
A total of 5000 km of NPRs will be constructed under this component. Besides, it is also envisaged to construct missing links (last mile connecting to the road network), missing structures (culverts and small bridges), approach roads to educational institutions; and upgrade or construct roads passing through tribal areas.
It is envisaged to upgrade existing earthen and metal roads to black top roads, resurfacing of village roads and other district roads, up-gradation of bridges to prevent flooding and subsequent isolation of flooded villages during monsoon season and widening of village roads and other district roads to ease traffic congestion.
The Loan Agreement was signed by Mr. Sameer Kumar Khare, Joint Secretary (MI), Department of Economic Affairs(DEA), Ministry of Finance on behalf of the Government of India and Dr. D.J. Pandian, Vice President and Chief Investment Officer, AIIB, on behalf of the AIIB.
The Project Agreement was signed between Mr. A.K. Patel, Chief Engineer (Panchayat) and Additional Secretary, Roads & Building Department, Government of Gujarat on behalf of the Gujarat State Government and Dr. D.J. Pandian signed the Project Agreement on behalf of the AIIB.